Clarifying "Prejudicial to Revenue" in Section 263: Not All Revenue Losses Warrant Revision of AO's Orders.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Revision u/s 263 - phrase ‘prejudicial to the interest of the revenue’ - every loss of revenue as a consequence of an order of AO cannot be treated as prejudicial to the interest of revenue - AT....