PCIT's Authority Limited: Cannot Revise Every AO Order u/s 263 of Income Tax Act. Judicial Clarification Provided. https://www.taxtmi.com/highlights?id=67396 Revision u/s 263 - Scope of Explanation 2 to section 263 - the said Explanation does not give unfettered power to the PCIT to assume revisional-jurisdiction to revise every order of the AO to re-examine the issues already examined during assessment-proceeding. It is judicially interpreted in several decisions that the intention of legislature behind introduction of Explanation 2 could not have been to enable the PCIT to find fault with each and every assessment-order in unlimited terms - AT en-us Thu, 29 Dec 2022 18:09:54 +0530 Thu, 29 Dec 2022 18:09:54 +0530 TaxTMI RSS Generator PCIT's Authority Limited: Cannot Revise Every AO Order u/s 263 of Income Tax Act. Judicial Clarification Provided. https://www.taxtmi.com/highlights?id=67396 Revision u/s 263 - Scope of Explanation 2 to section 263 - the said Explanation does not give unfettered power to the PCIT to assume revisional-jurisdiction to revise every order of the AO to re-examine the issues already examined during assessment-proceeding. It is judicially interpreted in several decisions that the intention of legislature behind introduction of Explanation 2 could not have been to enable the PCIT to find fault with each and every assessment-order in unlimited terms - AT Highlights Income Tax Thu, 29 Dec 2022 18:09:54 +0530 https://www.taxtmi.com/highlights?id=67396