https://www.taxtmi.com/caselaws?id=794518 Section 263 revision cannot be sustained where the Assessing Officer has taken a plausible view after examining the material. On depreciation of goodwill arising from a slump sale/business transfer, the revisional authority proceeded on an incorrect assumption that amalgamation provisions applied, while the assessment records showed enquiry into the valuation and depreciation claim; the revision was therefore not justified. On professional, valuation, legal, structuring and consultancy fees, the expenditure was treated as revenue in nature and the record showed consideration by the Assessing Officer, so mere disagreement or a brief objection did not establish lack of enquiry. The revisional order was quashed. en-us Mon, 15 Jun 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794518 Section 263 revision cannot be sustained where the Assessing Officer has taken a plausible view after examining the material. On depreciation of goodwill arising from a slump sale/business transfer, the revisional authority proceeded on an incorrect assumption that amalgamation provisions applied, while the assessment records showed enquiry into the valuation and depreciation claim; the revision was therefore not justified. On professional, valuation, legal, structuring and consultancy fees, the expenditure was treated as revenue in nature and the record showed consideration by the Assessing Officer, so mere disagreement or a brief objection did not establish lack of enquiry. The revisional order was quashed. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794518