17 February 2014
Almost all types of the orders are covered under Section 263 which are passed by the AOs. The Revision of order is made U/s 263 by the CIT at his own discretion and belief. which are considered by him as erroneous and resulting in a loss to the revenue. Here the purpose is to control the leakage of the revenue. . Whereas U/s 264 the "other" orders are such orders, which are Revised either of his own motion or at the request of the assessee even if its revision may result into the loss to the revenue. Here the purpose is to collect tax in a manner which is just and lawful. .
CAclubindia
