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REVISION OF ORDERS PREJUDICIAL TO REVENUE [Section:- 263]

Income Tax - Penalties - Circumstances, Procedures and Relief - 28 - (1) The Principal Commissioner or Commissioner may call for and examine the record of any proceeding under this Act, and if he considers that any order passed therein by the Assessi .....

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as the circumstances of the case justify, including an order enhancing or modifying the assessment, or cancelling the assessment and directing a fresh assessment. However he has to pass an order only after giving the assessee an opportunity of being .....

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erests of the revenue. Explanation:- For the purposes of this section, it is hereby declared that an order passed by the Assessing Officer shall be deemed to be erroneous in so far as it is prejudicial to the interests of the revenue, if, in the opin .....

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made in accordance with any order, direction or instruction issued by the Board u/s 119; or (d) the order has not been passed in accordance with any decision which is prejudicial to the assessee, rendered by the jurisdictional High Court or Supreme .....

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ction may be passed at any time to give effect to the finding or direction contained in an order of the High Court or Supreme Court. (3) Notwithstanding anything contained in sub-section (2), an order in revision under this section may be passed at a .....

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erpretation of expression erroneous in so far as it is prejudicial to the interest of the revenue has been contentious issue .In order to provide clarity on the issue a new Explanation has been inserted to clarity an order passed by the Assessing Off .....

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order is passed allowing any relief without enquiring in to the claim ; The order has not been made in accordance with any order ,direction or instruction issued by the board under section 119,or The order has not been passed in accordance with any .....

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263. NOTE 2: CIT can invoke section 263 if he proves that the order of Assessing Officer is erroneous on the basis of: A Supreme Court Judgment. A retrospective amendment in law. Evidence in his possession that the assessee has understated the income .....

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