https://www.taxtmi.com/caselaws?id=416879 The Tribunal condoned the delay in filing the appeal and admitted it for adjudication. Regarding the allowability of depreciation on an intangible asset, the Tribunal supported the Pr. CIT's decision to direct a reassessment due to inadequate enquiry by the AO. The Tribunal upheld the Pr. CIT's directive under section 263, finding the assessment order erroneous and prejudicial to the revenue's interest. As a result, the appeal was dismissed based on the issues analyzed during the proceedings. en-us Thu, 06 Jan 2022 00:00:00 +0530 Mon, 10 Jan 2022 09:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416879 The Tribunal condoned the delay in filing the appeal and admitted it for adjudication. Regarding the allowability of depreciation on an intangible asset, the Tribunal supported the Pr. CIT's decision to direct a reassessment due to inadequate enquiry by the AO. The Tribunal upheld the Pr. CIT's directive under section 263, finding the assessment order erroneous and prejudicial to the revenue's interest. As a result, the appeal was dismissed based on the issues analyzed during the proceedings. Case-Laws Income Tax Thu, 06 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416879