2016 (3) TMI 827

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....vi Devi, JM This is assessee's appeal for the A.Y. 2010-2011. In this appeal, assessee is aggrieved by the order of the Ld. CIT under section 263 of the I.T. Act, by which the CIT has proposed to revised the assessment for A.Y. 2010- 2011 and arrive at the quantum of interest on deposits on which TDS was not deducted as per the provisions of Section 194A of the Act. 2. At the time of hearing....

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....not given Form 15G/15H and prayed that the proposal to revise the assessment order may kindly be dropped. Since the assessee could not file all the details before the CIT, the revision order was passed setting aside the assessment order with a direction to re-do the assessment as per the directions of the CIT. Aggrieved, assessee preferred appeal before us. 3. The Ld. Counsel for the assessee, Mr....

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.... 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 t....