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of <h1>Amendment to Section 263: Clarifies Income-tax Officer's order scope and sets two-year limit for revisions.</h1> Section 263 of the Income-tax Act, 1961, was amended by the Taxation Laws (Amendment) Act, 1984, effective October 1, 1984. The amendment includes an explanation in subsection (1) clarifying that an order by the Income-tax Officer encompasses assessment orders based on directions from the Inspecting Assistant Commissioner under sections 144A or 144B, and orders made by the Inspecting Assistant Commissioner exercising the powers of an Income-tax Officer under sections 125 or 125A. Subsection (2) was revised to state that no order can be made under subsection (1) after two years from the end of the financial year in which the order was passed.
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