Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART II ASSESSMENTS

From: 2024-05-06 - To: 0000-00-00 1[122A. Revision by the Commissioner.- (1) The Commissioner may 2[ 3[, suo moto,]] call for the record of any proceeding under this Ordinance or under the repealed Ordinance in which an order has been passed by any 4[Officer of Inland Revenue] other than the 5[if the value of the assessment or, as the case may be, refund of the tax does not exceed twenty million rupees]. (2) Subject to sub-section (3), where, after making such inquiry as is necessary, Commissioner considers that the order requires revision, the Commissioner may make such revision to the order as the Commissioner deems fit. (3) An order under sub-section (2) shall not be prejudicial to the person to whom the order relates. (4) The Commissioner shall not revise any order under sub-section (2) (a) an appeal against the order lies to the Commissioner (Appeals) or to the Appellate Tribunal, the time within which such appeal may be made has not expired; or (b) the order is pending in appeal before the Commissioner (Appeals) or has been made the subject of an appeal to the Appellate Tribunal.] 6[(5) If any order is remanded back to any lower authority by the Commissioner for modification, alteration, implementation of directions or de novo proceedings, the order giving effect to the directions of the Commissioner shall be issued within one hundred and twenty days.] ________________________________________________________________________ 1-Section 122A inserted vide the Finance Act, 2003 (I of 2003 assented on 16th June, 2003) 2-The words inserted vide the Finance Act, 2004 (II of 2004 assented on 30th June, 2004) 3-The word “suo moto” substituted vide the Finance Act, 2005 (VII of 2005 assented on 29th June, 2005) 4-Word “Taxation Officer” substituted vide the Finance Act, 2010 (XVI of 2010). This amendment was effective from 5th June, 2010 by the declaration made under the Provisional Collection of Taxes Act, 1931 (XVI of 1931). Earlier this amendment was made vide the Finance (Amendment) Ordinance, 2010 (III of 2010 promulgated on 6th February, 2010 and the Finance (Amendment) Ordinance. 2009 (XXII of 2009 promulgated on 28th October, 2009) 5-For the expression…