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Section 263 Order Quashed for Notice Issued to Non-Existent Entity
Case Law Details
- Case Name
- Shriram Finance Limited Vs PCIT-3 (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Chennai
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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...
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