https://www.taxtmi.com/caselaws?id=783313 ITAT Pune upheld the PCIT's revisionary jurisdiction u/s 263, holding the assessment order for AY 2020-21 to be erroneous and prejudicial to the interests of Revenue due to the AO's failure to examine the assessee's claim of depreciation on goodwill arising on amalgamation. Since the goodwill had been fully impaired in the books and shown at nil, a detailed inquiry into the allowability of depreciation was mandatory, which the AO omitted. The PCIT's direction to the AO to verify the depreciation claim was affirmed, while observations relating to earlier years were held to be irrelevant for the set-aside assessment. The assessee's grounds, including on DIN validity, were dismissed. en-us Tue, 09 Dec 2025 00:00:00 +0530 Sat, 13 Dec 2025 08:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783313 ITAT Pune upheld the PCIT's revisionary jurisdiction u/s 263, holding the assessment order for AY 2020-21 to be erroneous and prejudicial to the interests of Revenue due to the AO's failure to examine the assessee's claim of depreciation on goodwill arising on amalgamation. Since the goodwill had been fully impaired in the books and shown at nil, a detailed inquiry into the allowability of depreciation was mandatory, which the AO omitted. The PCIT's direction to the AO to verify the depreciation claim was affirmed, while observations relating to earlier years were held to be irrelevant for the set-aside assessment. The assessee's grounds, including on DIN validity, were dismissed. Case-Laws Income Tax Tue, 09 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783313