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Assessee has raised the ground that learned AO after due verification of each and every points of Balance Sheet had completed the assessment and now setting aside the said assessment directing the Assessing Officer to redo the assessment and start roving enquiries is not legal and therefore, the order u/s. 263 is not justified under law.

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Sec. 263 of Income Tax Act, 1961—Revision— It is mandatory to apply the principles irrespective of the fact as to whether there is any statutory provision or not and the case of assessee, it was found that the assessee was not afforded opportunity, much less the sufficient opportunity to give reply to the show cause notice, therefore, it is clear that the Pr. CIT in a hurriedly manner without affording opportunity of hearing to assessee had passed order by violating principle of audi alteram partem and we are of the opinion that the Pr.CIT has committed a gross error in not providing any effective/reasonable opportunity of being heard to the assessee before passing the order, accordingly, revisional proceedings framed u/s.263 quashed - JAIDURGA MINERALS V/s PR. CIT - [2020] 208 TTJ 096 (ITAT-CUTTACK)