https://www.taxtmi.com/caselaws?id=778815 ITAT, Nagpur quashed the PCIT's revision under s.263 for the relevant AY, holding the revision invalid where the underlying s.153A r/w s.143(3) assessment had been quashed for lack of jurisdiction. The tribunal found s.263 cannot be invoked to revive or extend statutory limitation, and a non-est order cannot be deemed erroneous or prejudicial. PCIT failed to point specific errors or factual findings; AO's treatment of excess stock (included in books) and allowance of bad debts u/s 36(1)(vii) were reasonable. Consequently the s.263 order directing reframing of assessment was held without jurisdiction and set aside. en-us Wed, 14 May 2025 00:00:00 +0530 Tue, 23 Sep 2025 08:29:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778815 ITAT, Nagpur quashed the PCIT's revision under s.263 for the relevant AY, holding the revision invalid where the underlying s.153A r/w s.143(3) assessment had been quashed for lack of jurisdiction. The tribunal found s.263 cannot be invoked to revive or extend statutory limitation, and a non-est order cannot be deemed erroneous or prejudicial. PCIT failed to point specific errors or factual findings; AO's treatment of excess stock (included in books) and allowance of bad debts u/s 36(1)(vii) were reasonable. Consequently the s.263 order directing reframing of assessment was held without jurisdiction and set aside. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778815