https://www.taxtmi.com/caselaws?id=792970 Revision under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue; prior scrutiny of a depreciation claim and adoption of a permissible view preclude revision merely because an audit objection or CBDT Circular supports another view. Rights under a concession agreement may qualify as a licence or comparable business or commercial right eligible for depreciation as an intangible asset. Where depreciation is claimed on the opening written-down value of an accepted intangible-asset block, and amortisation would create only a revenue-neutral timing difference, the alternative treatment does not establish prejudice to Revenue. en-us Thu, 21 May 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792970 Revision under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue; prior scrutiny of a depreciation claim and adoption of a permissible view preclude revision merely because an audit objection or CBDT Circular supports another view. Rights under a concession agreement may qualify as a licence or comparable business or commercial right eligible for depreciation as an intangible asset. Where depreciation is claimed on the opening written-down value of an accepted intangible-asset block, and amortisation would create only a revenue-neutral timing difference, the alternative treatment does not establish prejudice to Revenue. Case-Laws Income Tax Thu, 21 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792970