Revision of orders prejudicial to revenue empowers commissioner to revise assessments subject to opportunity to be heard. Section 263 authorises the Principal Commissioner or Commissioner to revise orders of the Assessing Officer or Transfer Pricing Officer that are deemed erroneous and prejudicial to the interests of the revenue. The Commissioner must give the assessee an opportunity of being heard and may make necessary inquiries. Revisionary powers include enhancing or modifying assessments, cancelling and directing fresh assessments, and modifying or cancelling orders under section 92CA. A two-year limitation generally applies from the end of the financial year of the original order, with specified exclusions and exceptions to implement higher court or appellate tribunal directions.