Revisionary order passed u/s 263 without granting an opportunity of being heard is unsustainable

Hi-Shine Inks Pvt. Ltd. Vs PCIT (ITAT Surat) ITAT Surat held that revisionary order passed under section 263 of the Income Tax Act without considering reply of the assessee and without granting an opportunity of being heard is unsustainable in law as against the principles of natural justice. Facts- The assessee is a Private Limited Company. The return of the assessee was selected for scrutiny and assessment was completed u/s. 143(3) r.w.s. 143(3A) and 143(3B) of the Income Tax Act without any addition. On verification of case records, it was noted by PCIT that the assessee-company has claimed...