https://www.taxtmi.com/caselaws?id=792970 Section 263 revision is not sustainable where the Assessing Officer has examined the depreciation claim in scrutiny and taken a permissible view; an audit objection or alleged non-following of a CBDT circular does not by itself establish error and prejudice to the Revenue. The note also treats rights acquired under a concession agreement as an intangible asset, or a business/commercial right of similar nature, eligible for depreciation under section 32(1)(ii). Where the dispute is only between depreciation and amortisation of an already accepted block of intangible assets, the issue is revenue neutral and amounts only to a timing difference, so it does not justify revision. 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 Section 263 revision is not sustainable where the Assessing Officer has examined the depreciation claim in scrutiny and taken a permissible view; an audit objection or alleged non-following of a CBDT circular does not by itself establish error and prejudice to the Revenue. The note also treats rights acquired under a concession agreement as an intangible asset, or a business/commercial right of similar nature, eligible for depreciation under section 32(1)(ii). Where the dispute is only between depreciation and amortisation of an already accepted block of intangible assets, the issue is revenue neutral and amounts only to a timing difference, so it does not justify revision. Case-Laws Income Tax Thu, 21 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792970