https://www.taxtmi.com/caselaws?id=177879 The Tribunal allowed the appeal, ruling that the Commissioner's assumption of jurisdiction under section 263 of the Income Tax Act lacked validity. The Assessing Officer had considered and allowed the claim of depreciation on goodwill in previous years, indicating application of mind. Therefore, the Tribunal held that there was no basis to conclude that the Assessing Officer did not apply his mind to the claim of depreciation on goodwill. The appeal was allowed solely on the lack of validity of jurisdiction without making any determination on the merits of the claim. en-us Fri, 29 May 2009 00:00:00 +0530 Thu, 21 Jan 2016 12:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177879 The Tribunal allowed the appeal, ruling that the Commissioner's assumption of jurisdiction under section 263 of the Income Tax Act lacked validity. The Assessing Officer had considered and allowed the claim of depreciation on goodwill in previous years, indicating application of mind. Therefore, the Tribunal held that there was no basis to conclude that the Assessing Officer did not apply his mind to the claim of depreciation on goodwill. The appeal was allowed solely on the lack of validity of jurisdiction without making any determination on the merits of the claim. Case-Laws Income Tax Fri, 29 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177879