Revision u/s 263: Tribunal rules in favor of depreciation claim on goodwill and Trade name. Assessment order was neither erroneous nor prejudicial to revenue.

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....The Appellate Tribunal considered a case involving revision u/s 263 of the Income Tax Act regarding depreciation claim on goodwill and intangible assets. The Principal Commissioner believed the depreciation claimed was disallowed. The Tribunal found that the goodwill arose post-amalgamation and its valuation was supported by a report approved by the National Company Law Tribunal. A Supreme Court precedent supported the depreciation claim. The Tribunal also addressed a disallowance issue, determining that the error didn't lead to revenue loss. Citing the Paville Projects case, the Tribunal concluded that the assessment order was neither erroneous nor prejudicial to revenue, ruling in favor of the assessee.....