https://www.taxtmi.com/caselaws?id=464018 ITAT MUMBAI upheld the Pr. CIT's revision under sec. 263, finding the assessment orders erroneous and prejudicial because the AO failed to examine depreciation on intangible assets in the years under review despite having disallowed it earlier; allowing relief without inquiry was held to attract Explanation 2(b) to sec. 263. The Tribunal agreed the revision orders cannot be faulted but directed the AO to re-examine the depreciation claim in accordance with the applicable Supreme Court precedent, afford the assessee adequate hearing, and decide the matter afresh. en-us Mon, 09 Dec 2024 00:00:00 +0530 Thu, 25 Sep 2025 17:11:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464018 ITAT MUMBAI upheld the Pr. CIT's revision under sec. 263, finding the assessment orders erroneous and prejudicial because the AO failed to examine depreciation on intangible assets in the years under review despite having disallowed it earlier; allowing relief without inquiry was held to attract Explanation 2(b) to sec. 263. The Tribunal agreed the revision orders cannot be faulted but directed the AO to re-examine the depreciation claim in accordance with the applicable Supreme Court precedent, afford the assessee adequate hearing, and decide the matter afresh. Case-Laws Income Tax Mon, 09 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464018