Section 263 Order Quashed for Notice Issued to Non-Existent Entity

Shriram Finance Limited Vs PCIT-3 (ITAT Chennai) Section 263 Revision Quashed for Notice to Non-Existent Entity — PCIT Order Void Despite Alleged Excess Bad-Debt Claim The Chennai Bench of the ITAT allowed the appeal of Shriram Finance Ltd. for AY 2022-23, quashing the revision order under section 263 on the fundamental jurisdictional ground that the show-cause notice was issued to a non-existent entity. The PCIT invoked section 263 alleging that the Assessing Officer had wrongly allowed excess bad-debt deduction of ₹99.78 lakh, by not reducing the opening balance of provision created unde...