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2016 (12) TMI 622 - ITAT AHMEDABADRevision u/s 263 - allowance of depreciation on goodwill - Held that:- Assessing Officer has accepted the assessee’s claim of depreciation on goodwill on the reduced w.d.v. as on 1/4/2010 after making enquiries, proper verification and application of mind and therefore, ld. Pr. CIT has wrongly assumed the jurisdiction u/s 263 of the Act and the same is uncalled for and unwarranted and deserves to be quashed. We accordingly set aside the order of ld. Pr. CIT passed u/s 263 of the Act and restore that of the Assessing Officer passed u/s 143(3) of the Act dated 30.3.2014. - Decided in favour of assessee.
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