https://www.taxtmi.com/caselaws?id=778157 ITAT (Ahmedabad) allowed the appeal, holding the PCIT's revision u/s 263 incorrect. The tribunal found no legal requirement to set off brought-forward additional depreciation from the preceding year against the opening WDV before computing current-year depreciation; computing depreciation on the opening WDV without such adjustment is permissible. Consequently the assessment was not erroneous for allowing depreciation on the opening WDV, and the PCIT's contention of excess claim was rejected. en-us Mon, 08 Sep 2025 00:00:00 +0530 Thu, 11 Sep 2025 08:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778157 ITAT (Ahmedabad) allowed the appeal, holding the PCIT's revision u/s 263 incorrect. The tribunal found no legal requirement to set off brought-forward additional depreciation from the preceding year against the opening WDV before computing current-year depreciation; computing depreciation on the opening WDV without such adjustment is permissible. Consequently the assessment was not erroneous for allowing depreciation on the opening WDV, and the PCIT's contention of excess claim was rejected. Case-Laws Income Tax Mon, 08 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778157