https://www.taxtmi.com/caselaws?id=788412 Revisionary jurisdiction was held inapplicable because the assessment order was not shown to be both erroneous and prejudicial to revenue; earlier adjustments relied on by the revisional authority had been set aside by competent fora, and the assessing officer used the correct opening written down value, so the revision is quashed. Depreciation on goodwill was correctly recognised as arising from the year of acquisition with subsequent years following opening WDV, and therefore the allowance for the relevant year is sustained. Forfeited security deposit, disclosed in audited accounts and later paid toward tax liability, does not constitute assessable income given tax neutrality on payment. en-us Thu, 05 Feb 2026 00:00:00 +0530 Sat, 21 Mar 2026 08:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788412 Revisionary jurisdiction was held inapplicable because the assessment order was not shown to be both erroneous and prejudicial to revenue; earlier adjustments relied on by the revisional authority had been set aside by competent fora, and the assessing officer used the correct opening written down value, so the revision is quashed. Depreciation on goodwill was correctly recognised as arising from the year of acquisition with subsequent years following opening WDV, and therefore the allowance for the relevant year is sustained. Forfeited security deposit, disclosed in audited accounts and later paid toward tax liability, does not constitute assessable income given tax neutrality on payment. Case-Laws Income Tax Thu, 05 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788412