Section 263 Jurisdiction Not Upheld as Assessment Order Issued to Non-Existing Assessee: ITAT Mumbai

Raghuleela Estates Private Limited Vs PCIT (ITAT Mumbai) ITAT Mumbai held that PCIT grossly erred in assuming jurisdiction u/s. 263 of the Income Tax Act as assessment order has been framed in the name of a non-existing assessee. Facts- The present appeal is preferred by the assessee against the order framed u/s 263 of the Act by the PCIT pertaining to Assessment Year 2020-21. The sum and substance of the grievance of the assessee is that the PCIT erred in assuming jurisdiction u/s 263 of the Act and further erred in holding that the assessment order dated 31/03/2022 framed u/s 143(3) of the A...