Incom Tax Act 263
This query is : Resolved
14 November 2008
Do you mean section 263 of the IT Act !!
14 November 2008
If the commissioner of income tax considers that an order passed by the assessing authority is prejudicial to the interest of the revenue, he may pass such orders including an order enhancing or modifying the assessment or cancel the assessment and direct for a fresh assessment.Before doing this the commissioner will give the assessee an opportunity of being heard and also he will make inquiry about the prejudicial nature of assessment.
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