India - Income Tax Act 2010 - Saarc

S. 264 I.T. ACT, 1961 1.868(i) an order of assessment made by the Assistant Commissioner76[or Deputy Commissioner] or the Income-tax Officer on thebasis of the directions issued by the 77 [Joint] Commissioner undersection 144A;(ii) an order made by the 77 [Joint] Commissioner in exercise of thepowers or in the performance of the functions of an AssessingOfficer conferred on, or assigned to, him under the orders ordirections issued by the Board or by the Chief Commissioner orDirector General or Commissioner authorised by the Board inthis behalf under section 120;(b) “record” 78 [shall include and shall be deemed always to have included]all records relating to any proceeding under this Act available at thetime of examination by the Commissioner;(c) where any order referred to in this sub-section and passed by theAssessing Officer had been the subject matter of any appeal 79 [filedon or before or after the 1st day of June, 1988], the powers of theCommissioner under this sub-section shall extend 79 [and shall bedeemed always to have extended] to such matters as had not beenconsidered and decided in such appeal.]80[(2) No order shall be made under sub-section (1) after the expiry of two yearsfrom the end of the financial year in which the order sought to be revised waspassed.](3) Notwithstanding anything contained in sub-section (2), an order in revisionunder this section may be passed at any time in the case of an order which hasbeen passed in consequence of, or to give effect to, any finding or directioncontained in an order of the Appellate Tribunal, 81 [National Tax Tribunal,] theHigh Court or the Supreme Court.Explanation.—In computing the period of limitation for the purposes of subsection(2), the time taken in giving an opportunity to the assessee to be reheardunder the proviso to section 129 and any period during which any proceedingunder this section is stayed by an order or injunction of any court shall beexcluded.Revision of other orders.82264. (1) In the case of any order 83 other than an order to which section 263applies passed by an authority subordinate to him, the Commissionermay, either of his own motion or on an application by the assessee for revision,call for the record of any proceeding under this Act in which any such order has76. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998.77. Substituted for “Deputy”, ibid.78. Substituted for “includes” by the Finance Act, 1989, w.r.e.f. 1-6-1988.79. Inserted, ibid.80. Substituted by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984.81. Shall be inserted by the National Tax Tribunal Act, 2005, with effect from a date yet to benotified.82. See also Circular No. 367, dated 26-7-1983 and Letter [F. No. 6/52/68-ITJ], dated 30-7-1970.For details, see Taxmann’s Master Guide to Income-tax Act.83. For the meaning of the term “order”, see Taxmann’s Direct Taxes Manual, Vol. 3.