https://www.taxtmi.com/article/detailed?id=6542 The Commissioner's revisional power under Section 263 is exercisable only where an Assessing Officer's order is both erroneous (including failure to make necessary inquiries) and prejudicial to the interests of the Revenue. Temporal limits, including a two year bar except for orders giving effect to appellate directions, restrict revision. The Commissioner may rely on new material and may remand matters for further inquiry when specific deficiencies are identified, but cannot reopen concluded matters for fishing expeditions or revise orders where the Assessing Officer has adopted a permissible view. en-us Wed, 25 Nov 2015 08:39:26 +0530 Wed, 25 Nov 2015 08:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6542 The Commissioner's revisional power under Section 263 is exercisable only where an Assessing Officer's order is both erroneous (including failure to make necessary inquiries) and prejudicial to the interests of the Revenue. Temporal limits, including a two year bar except for orders giving effect to appellate directions, restrict revision. The Commissioner may rely on new material and may remand matters for further inquiry when specific deficiencies are identified, but cannot reopen concluded matters for fishing expeditions or revise orders where the Assessing Officer has adopted a permissible view. Articles Income Tax Wed, 25 Nov 2015 08:39:26 +0530 https://www.taxtmi.com/article/detailed?id=6542