Section 263 cannot be invoked to correct each and every type of mistake or error committed by the AO. If there is no order which is sought to be revised by the Pr. CIT, question of revising the order does not arise. In the instant case, though the AO recorded his finding in the order for initiation of penalty under Section 271(1)(c). He issued notice under Section 271AAB(1A).

Held that if there is no order, it is not open to the Pr. CIT to exercise his revisional powers under Section 263 to create a non-existent proceedings, invocation of provision of Section 263 to correct the section under which the penalty is leviable is beyond the power vested under Section 263 when there are other options available with AO. (AY. 2012-13 to 2015-16)