SATYA PRAKASH BUILDERS LTD,MADAN MAHAL, JABALPUR vs. ASSTT COMMISSIONER OF INCOME TAX, MISSION COMPOUND

ITA 134/JAB/2024Status: DisposedITAT Jabalpur20 August 2026AY 2012-135 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the eligibility for 30% depreciation on transit mixers depends on whether they are used in a business of running them on hire. The issue was restored to the AO for verification of this fact.

What were the facts?

The assessee claimed depreciation on transit mixers. The Assessing Officer disallowed this claim, leading to an addition. The CIT(A) partly allowed the appeal, deleting an addition related to brought forward losses but confirming the disallowance of depreciation on transit mixers.

What were the issues?

The primary issue is whether transit mixers used for supplying mixed concrete to customers qualify for depreciation at 30% if they are not explicitly used in a business of running them on hire.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 148

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JABALPUR BENCH “DB”, JABALPUR

Before: SHRI KUL BHARAT & SHRI, GD PADMAHSHALI

For Appellant: Dr. H. S. Modh, Advocate
For Respondent: Shri Rahul Padha, JC-2

PER KUL BHARAT, VICE PRESIDENT.:

This appeal, filed by the assessee, against the order of the Learned Commissioner of Income-tax (Appeals)/National Faceless Appeal Centre (NFAC), Delhi dated 05.06.2024 pertaining to the assessment year 2012-13. The assessee has raised the following grounds of appeal: -

“1. That the CIT(A) has grossly erred in facts and circumstances of the case to confirm the addition of Rs.21,10,393/- considering that the disallowance of depreciation on Transit Mixture is justified.

2.

That the addition confirmed for Rs.21,10,393/- on account of disallowance of depreciation on Transit Mixture is arbitrary and bad in law.

3.

That the assessee crave leave to raise any

The order continues below.

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