Passing of rectification order u/s. 154 without opportunity of being heard is bad-in-law

Brig. (Retd.) Jitendra Kumar Narang Vs ITO (ITAT Pune)

ITAT Pune held that rectification order under section 154 of the Income Tax Act passed without providing an opportunity of being heard is bad-in-law and deserved to be set aside. Accordingly, appeal of assessee allowed.

Facts- AO on the basis of annual information return i.e. AIR found that the assessee has invested Rs.2,40,000/- in Sundaram BNP Paribas on 02.04.2006 and Rs.4 lakh in SBI mutual fund on 11.04.2006 which amounts in all to Rs.6,40,000/-. According to AO, the salary income of the assessee wa

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