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REVISION OF OTHER ORDERS SECTION -264

Income Tax - Penalties - Circumstances, Procedures and Relief - 29 - In case of any order passed by the Assessing Officer, the Commissioner may, either of his own motion or on an application by the assessee for revision, call for the record of any proceeding under this Act in which such order has been passed and may make further inquiries. The application made by the assessee shall be accompanied by a fee of Rs.500. An order of Assessing Officer which has been revised under Section 263 cannot be .....

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4. NOTE 3:- CIT under section 264 can declare the assessment to be void ab-initio. NOTE 4:- CIT under section 264 can cancel/set aside the order of assessment of the Assessing Officer and direct him to make a fresh assessment and such directions shall not be prejudicial to the assessee. The Commissioner shall not of his own motion revise any order if the order has been made more than one year previously. In case an application for revision is made by the assessee, the application must be within .....

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