https://www.taxtmi.com/caselaws?id=778343 ITAT MUMBAI held that revision under section 263 could not be invoked. The AO had examined and accepted the assessee's depreciation claim on goodwill (25% WDV), disallowing only the half-year adjustment (50% of 25%) for assets used under 180 days, which was added back. The tribunal found the AO applied his mind, the depreciation disclosure appeared in the revised return, and earlier tribunal decisions supported that depreciation on goodwill in the block of assets is not an erroneous claim. The conditions of error and prejudice under s.263 were not satisfied. en-us Wed, 16 Jul 2025 00:00:00 +0530 Fri, 12 Sep 2025 14:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778343 ITAT MUMBAI held that revision under section 263 could not be invoked. The AO had examined and accepted the assessee's depreciation claim on goodwill (25% WDV), disallowing only the half-year adjustment (50% of 25%) for assets used under 180 days, which was added back. The tribunal found the AO applied his mind, the depreciation disclosure appeared in the revised return, and earlier tribunal decisions supported that depreciation on goodwill in the block of assets is not an erroneous claim. The conditions of error and prejudice under s.263 were not satisfied. Case-Laws Income Tax Wed, 16 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778343