Both are big concepts in itself u'll have to google in short 263 is against the assessee and 264 is in favour of assessee Both are revision done by CIT 263 affirms partial merger while 264 affirms total mereger
263 initiated by revenue with a thought of revenue escaped by giving an opportunity to the assessee to submit his version before initiation & whereas 264 is initiated based on the request of the assessee; provided the reason is valid & genuine.
No 264 is not necessarily issued on request of assessee but can be issued by CIT himself also
And 263 is when AO makes a decision prejudicial to interest of revenue which is erroneous
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