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2016 (3) TMI 827 - AT - Income TaxTds u/s 194A - non deduction of tds on interest on deposits - revision u/s 263 - Held that:- the direction of the Ld. CIT to re-do the assessment is due to non-submission of the requisite details by the assessee before him. Under section 263 of the Act, CIT has wide powers but does not have unfettered discretion to revise the assessment order and the condition necessary for invoking the power must exist. The CIT can come to the conclusion of the assessment order to be erroneous if the A.O. has not made necessary enquiries before completing the assessment but to come to the conclusion that the assessment order is also prejudicial to the interests of the Revenue, he has to go through the relevant material. But since the assessee did not produce the required details, the CIT proceeded to revise the assessment order by remanding it to the file of the A.O. Now that the details are filed before us, we deem it fit and proper to admit the same and remit the issue to the file of the Ld. CIT with a direction to re-look into the matter in the light of paper book filed by the assessee. Needless to say that assessee shall be given a fair opportunity of being heard. - Decided in favour of assessee for statistical purposes.
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