743/CBDT.

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..... tify the mistake detected by the ITO, but before the orders could be passed under section 263, the Appellate Assistant Commissioner of Income-tax decided the appeals with the result that no further remedial action was possible and there was irretrievable loss of revenue. 2. The Board are of the view that this could have been avoided if the proceedings taken under section 263 had been finalised i .....

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