Section 263 demands proof of error and revenue prejudice for CIT to revise orders under the Income Tax Act.

Section 263 demands proof of error and revenue prejudice for CIT to revise orders under the Income Tax Act. https://www.taxtmi.com/highlights?id=2510 Revision under section 263 - in the absence of a positive finding of application of twin conditions that the order sought to be revised is erroneous and it is prejudicial to the interests of the revenue, it was not open for the ld. CIT to assume jurisdiction.... - AT en-us Mon, 26 Dec 2011 10:17:07 +0530 Mon, 26 Dec 2011 10:17:07 +0530 TaxTMI RSS Generator Section 263 demands proof of error and revenue prejudice for CIT to revise orders under the Income Tax Act. https://www.taxtmi.com/highlights?id=2510 Revision under section 263 - in the absence of a positive finding of application of twin conditions that the order sought to be revised is erroneous and it is prejudicial to the interests of the revenue, it was not open for the ld. CIT to assume jurisdiction.... - AT Highlights Income Tax Mon, 26 Dec 2011 10:17:07 +0530 https://www.taxtmi.com/highlights?id=2510