Matter restored back to CIT(A) as ex-parte order passed violating principles of natural justice

Mono Steel (India) Ltd. Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that where Commissioner (Appeals) passed ex-parte order in violation of principles of natural justice, one more opportunity should be granted to assessee. Accordingly, matter restored back to CIT(A) for de-novo consideration. Facts- The assessee is a company engaged in the business of Manufacturing and Resale of Angle Channels Ingots. During the course of assessment, the assessee had claimed deduction u/s. 80-IA in respect of it’s power plant division on which a very high net profit rate of 67.16% was declared. Accordingly,...