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PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order

Update / Judgement Date

23 Aug 2024

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Appeal Against OrderCorporate ComplianceIncome Tax

The ITAT set aside the order passed under Section 263 of the Income Tax Act by the Principal Commissioner of Income Tax (PCIT) due to the assessment being issued in the name of a non-existent entity. The tribunal held that such orders are invalid as they lack proper jurisdiction.