Revision of orders prejudicial to revenue allows Competent Authority to reexamine and revise assessments that are erroneous and prejudicial.

The Competent Authority may examine records and, after giving the assessee an opportunity of being heard and such inquiry as necessary, pass revisional orders including enhancement, modification, cancellation and direction for fresh assessment or orders under section 166; this covers orders by Assessing Officers, Transfer Pricing Officers and certain Joint Commissioner orders.

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