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2016 (12) TMI 1400 - ITAT VISAKHAPATNAMRevision u/s 263 - Held that:- In the present case on hand, the CIT alleged that the A.O. not only failed to examine certain issues, but also failed to apply his mind before completion of assessment, which render the assessment order erroneous in so far as it is prejudicial to the interest of the revenue. We find merits in the findings of the CIT, for the reason that although the assessee claims to have furnished all the details on the issues on which the CIT questioned in his proceedings, the assessee failed to prove the same with necessary evidences. We further observed that on perusal of the assessment records and also details filed by the assessee, the assessing officer had discussed none of the issues pointed out by the CIT. We also observed that the assessment order passed by the A.O. is brief and cryptic and the A.O. neither discussed the issue pointed out by the CIT in the assessment proceedings nor obtained any information on which he placed his reliance before accepting the claim of the assessee. Therefore, we are of the considered view that the assessment order passed by the A.O. is erroneous in so far as it is prejudicial to the interest of the revenue and accordingly the CIT has rightly assumed jurisdiction to revise the assessment order. Hence, we uphold the order passed by the CIT u/s 263 of the Act and set aside the assessment order passed by the A.O. u/s 143(3) of the Act. - Decided against assessee.
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