Clause 264 - Power to rectify a mistake. - Direct Taxes Code, 2010

Power to rectify a mistake. 264. (1) The Authority may, either suo motu or the mistake on being brought to its notice by the public sector company or the Commissioner or the Assessing Officer, with a view to rectifying any mistake apparent on the face of record, amend any order passed by it under section 258 or section 262. (2) No order under sub-section (1) shall be passed after a period of four years from the date on which order sought to be amended was made. (3) The Authority shall not make an amendment which has the effect of enhancing an assessment or reducing a refund or otherwise increasing the liability of the public sector company without giving the said company an opportunity of being heard.