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REVISION OF ORDERS PREJUDICIAL TO REVENUE Section - 263

Income Tax - Penalties - Circumstances, Procedures and Relief - 28 - The commissioner may call for and examine the record of any proceeding under the Act and if he considers that any order passed by the Assessing Officer is erroneous in so far as it is prejudicial to the interests of the revenue, he may, after giving the assessee an opportunity of being heard pass such order as he deems fit. Section 263(1) has been amended by the finance act 2015 as follows: The interpretation of expression erro .....

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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 decision prejudicial to the assessee ,rendered by the High Court or Supreme Court in the case of assessee or any other person. The order of the Commissioner can be to enhance or modify the assessment or cancel the assessment and directing a fresh assessment. NOTE 1: Intimation or .....

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e invoked if the CIT is merely of the opinion that a particular deduction should not have been allowed to the assessee. As in section 147, in section 263 also revision is not possible on account of change in personal opinion. NOTE 3:- An order can be said to be prejudicial to the revenue if Income has been under assessed Losses have been over assessed Income has been assessed at lower rate Excessive loss, deduction, allowances and reliefs have been allowed to the assessee. NOTE 4:- If the Assess .....

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