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Non-examination of issue of depreciation claimed on goodwill justifies revision u/s. 263
Case Law Details
- Case Name
- Gera Developments Pvt. Ltd Vs PCIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
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Gera Developments Pvt. Ltd Vs PCIT (ITAT Pune)
ITAT Pune held that non-examination of issue of depreciation claimed on goodwill justifies invocation of revisionary proceeding under section 263 of the Income Tax Act. Accordingly, order sustained and appeal of assessee dismissed.
Facts- The assessee is a Private Limited Company engaged in the business of Builders and Developers. Post completion of scrutiny assessment, PCIT (Central) invoked provisions of section 263 of the Act regarding the claim of depreciation on intangible assets at ₹1,86,95,184 giving reference of the generation of goodwi...
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