https://www.taxtmi.com/caselaws?id=779782 ITAT AHMEDABAD upheld the PCIT's exercise of revisionary jurisdiction under s.263, holding that s.263 applies to errors apparent on the record even if rectifiable under ss.154 or 147. The AO's order disallowing depreciation on goodwill (?10,89,82,058 against a claim of ?27,63,20,888) was found erroneous and prejudicial to revenue, warranting revision and directions to the AO. The tribunal declined to adjudicate the substantive merit of the depreciation issue, noting it should be decided in the pending quantum appeal before the CIT(A). The assessee's appeal was dismissed. en-us Wed, 08 Oct 2025 00:00:00 +0530 Mon, 13 Oct 2025 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779782 ITAT AHMEDABAD upheld the PCIT's exercise of revisionary jurisdiction under s.263, holding that s.263 applies to errors apparent on the record even if rectifiable under ss.154 or 147. The AO's order disallowing depreciation on goodwill (?10,89,82,058 against a claim of ?27,63,20,888) was found erroneous and prejudicial to revenue, warranting revision and directions to the AO. The tribunal declined to adjudicate the substantive merit of the depreciation issue, noting it should be decided in the pending quantum appeal before the CIT(A). The assessee's appeal was dismissed. Case-Laws Income Tax Wed, 08 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779782