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Revision of orders prejudicial to revenue.

Section 23 - TAX MANAGEMENT - Other Direct Tax Provisions - Section 23 - 23. (1) The Principal Commissioner or the Commissioner may, for the purposes of revising any order passed in any proceeding under this Act before any tax authority subordinate to him, call for and examine all available records relating thereto. (2) The Principal Commissioner or the Commissioner may, after giving the assessee an opportunity of being heard, pass an order (hereinafter referred to as the revision order) as the .....

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assessment but shall not be an order cancelling the assessment and directing a fresh assessment. (5) The power of the Principal Commissioner or the Commissioner under sub-section (2) for revising an order shall extend to such matters as have not been considered and decided in any appeal. (6) No order under sub-section (2) shall be made after the expiry of a period of two years from the end of the financial year in which the order sought to be revised was passed. (7) Notwithstanding anything in s .....

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