S. 264 of the Income-tax Act permits the assessee to make an application to the CIT for revision of orders passed by the AO. The CBDT has issued Instruction No. 11/2014 dated 16.05.2014 stating that there shall be administrative supervision of such revision orders passed by the CIT u/s 264. Guidelines have been laid down which have to be complied with by the CIT.
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