9911796707
TMI BlogRevision of orders prejudicial to revenue.X X X X Extracts X X X X X X X X Extracts X X X X ..... d therein by the Assessing Officer or the Transfer Pricing Officer, as the case may be, is erroneous in so far as it is prejudicial to the interests of the revenue, he may, after giving the assessee an opportunity of being heard and after making or causing to be made such inquiry as he deems necessary, pass such order thereon as the circumstances of the case justify, including- (a) an order enha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncipal Director General or Director General or Principal Commissioner or Commissioner authorised by the Board under section 241; and (iii) an order under section 166; (b) "record" shall include all records relating to any proceeding under this Act available at the time of examination by the Competent Authority; (c) where any order referred to in this section and passed by the Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... endered by the jurisdictional High Court or Supreme Court in the case of the assessee or any other person. (4) No order shall be made under sub-section (1) after the expiry of two years from the end of the financial year in which the order sought to be revised was passed. (5) Irrespective of anything contained in sub-section (4), an order in revision under this section may be passed at any time ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch remaining period shall be extended to sixty days and such period of limitation shall be deemed to have been extended accordingly. (8) In this section,-- (a) "Competent Authority" means the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner; and (b) "Transfer Pricing Officer" shall have the same meaning as in section 166(18). - Clause 377 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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