https://www.taxtmi.com/caselaws?id=371862 The Tribunal ruled in favor of the assessee, quashing the CIT's order under section 263. The Tribunal upheld the assessee's contentions, citing High Court decisions supporting deductions for employees' contribution towards provident fund and ESIC. It also recognized the legal validity of claiming depreciation on intangible assets like goodwill, as supported by the Apex Court. Consequently, the Tribunal found the Assessing Officer's decisions reasonable and aligned with applicable case law, dismissing the CIT's intervention and deciding in favor of the assessee on both issues. en-us Mon, 03 Dec 2018 00:00:00 +0530 Thu, 13 Dec 2018 14:05:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371862 The Tribunal ruled in favor of the assessee, quashing the CIT's order under section 263. The Tribunal upheld the assessee's contentions, citing High Court decisions supporting deductions for employees' contribution towards provident fund and ESIC. It also recognized the legal validity of claiming depreciation on intangible assets like goodwill, as supported by the Apex Court. Consequently, the Tribunal found the Assessing Officer's decisions reasonable and aligned with applicable case law, dismissing the CIT's intervention and deciding in favor of the assessee on both issues. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371862