28. Revision.—

(1) The revisional authority, not below the rank of a Commissioner, authorised in this behalf, by an order of the Board, may, on his own motion, or upon information received by him, call for and examine the record of any proceedings, and if he considers that any order passed under this Act by any officer subordinate to him is erroneous in so far as it is prejudicial to the interest of revenue, or is illegal or improper, or has not taken into account certain material facts, whether available at the time of issuance of the said order or not, or in consequence of an observation by the Comptroller and Auditor-General of India, he may, if necessary, stay the operation of such order for such period as he deems fit and after giving the person concerned an opportunity of being heard and after making such further inquiry as may be necessary, pass such order, as he thinks just and proper, including enhancing or modifying or annulling the said order.

(2) The revisional authority shall not exercise any power under sub-section (1), if—

(a) the order has been subject to an appeal under section 29 or section 30; or

(b) the period specified under sub-section (1) of section 29 has not yet expired or more than two years have expired after the passing of the order sought to be revised; or

(c) the order has already been taken up for revision under this section at an earlier stage; or

(d) the order was passed in exercise of the powers under sub-section (1).

(3) The revisional authority may pass an order under sub-section (1) on any point which has not been raised and decided in an appeal referred to in clause (a) of sub-section (2), before the expiry of a period of one year from the date of the order in such appeal or before the expiry of a period of two years referred to in clause (b) of that sub-section, whichever is later.

(4) Every order passed in a revision under sub-section (1) shall, subject to the provisions of section 30 or section 32 or section 33, be final and binding on the parties.

(5) If the order subject to revision under sub-section (1) involves an issue on which the Appellate Tribunal or the High Court has given its decision in some other proceedings and an appeal to the High Court or the Supreme Court against such decision of the Appellate Tribunal or the High Court is pending, the period spent between the date of the decision of the Appellate Tribunal and the date of the decision of the High Court, or the date of the decision of the High Court and the date of the decision of the Supreme Court, shall be excluded in computing the period of limitation referred to in clause (b) of sub-section (2) where proceedings for revision have been initiated by way of issue of a notice under this section.

(6) Where the issuance of an order under sub-section (1) is stayed by the order of a Court or Appellate Tribunal, the period of such stay shall be excluded in computing the period of limitation referred to in clause (b) of sub-section (2).

(7) For the purposes of this section, the expression “record” shall include all records relating to any proceedings under this Act available at the time of examination by the revisional authority.