Commercial’s Revision of Order By Principal Commissioner or Commissioner U/Ss 263 & 264 by Ram Dutt Sharma – 2nd Edition 2022.

Commercial’s Revision of Order By Principal Commissioner or Commissioner U/Ss 263 & 264 by Ram Dutt Sharma – 2nd Edition 2022.

About the book

Part E of Chapter XX of Income Tax Act, 1961 gives revisionary powers to the Principal Commissioner or Commissioner of Income Tax. The Revisionary powers given to Principal Commissioner or Commissioner are of two types. (1) Under Section 263- Orders prejudicial to the revenue; and (ii) Under Section 264 – Orders other than Section 263. This is an attempt to explore the lesser explored section 264 empowering the Principal Commissioner or Commissioner to review an order of a subordinate authority.

Section 263 of the Income-tax Act, 1961 confers wide powers on the Principal Commissioner or Commissioner to revise any assessment which is “erroneous and prejudicial to the interests of the revenue”. While the section is widely worded, Courts have read in a number of checks and balances to ensure that the said power is not abused by the Principal Commissioner or Commissioner.

There is a virtually parallel provision – Section 264 of the Act, which empowers the Principal Commissioner or Commissioner to revise any order other than the order under Section 263, passed by an authority subordinate to him, on his own motion or on an application by the assessee for revision. The Principal Commissioner or Commissioner is empowered to call for the record of any proceeding under the Act in which such an order has been passed and may make such inquiry or cause such inquiry to be made and pass such order thereon, not being an order prejudicial to the assessee and subject to the provisions of this Act, as he thinks fit.

A simplified, systematic approach to the understanding of a complex subject written in a unique, simple, easy to understand language. Each chapter is explained with the help of latest case law to understand the concept. A novel feature in the book is the Chapter-wise Study given in the beginning of each chapter to enable to make a systematic study of the law & User-friendly Even the last minute changes in the law have been incorporated in the book and it is, therefore, the latest and most up-to-date book on the subject.

In this book a careful analysis has been made on the entire law on the subject and identified all the core legal principles.

I would like to place on record a special note of gratitude to Shri Ashok Kumar Manchanda. IRS (1976-Batch) who has been the guiding force and a constant source of inspiration in my life.

I also express my thanks to Commercial Law Publishers (India) Pvt Ltd who reposed confidence in me and published this book. They have done a good job in making this book attractive, acceptable and useful.

I believe the efforts in bringing out this book will get amply rewarded if it proves to be useful to all concerned. It will be our endeavor to revise the edition more frequently. The book may be considered as a reference book and cannot be quoted as a basis for any litigation or legal action.

In a work of this magnitude on a volatile subject there will always be scope for further improvements and embellishments. This would be possible only with the feedback from the readers. We welcome your constructive suggestions and comments for making it more useful to the different segments of the society.

I am sure this book will be immensely useful and benefit all its readers by providing an insight into the complex aspects of revision of orders by Principal Commissioner or Commissioner under sections 263 & 204 of Income tax Act, 1961 with due clarity on the subject matter and in a simplified manner.

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