CIT v. Sakthi Metal Depot

333 ITR 492High Court2011#11509 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2022 to 2025.

Sections most often in play

Section 143(3)Section 50Section 32Section 43(6)(b)Section 112Section 143(1)Section 271(1)(c)Section 41(2)

Issues it is cited on

written down valuesection 50previous yearsection 143(3)indiatotal incomebusiness

Judgments citing CIT v. Sakthi Metal Depot

Steelfab Building Systems, Mumbai vs. DCIT. Central Circle 1 (2), Mumbai

In the result, appeal of the assessee is allowed

ITA 3196/MUM/2025[2016-17]Status: DisposedITAT Mumbai24 Jul 2025AY 2016-17

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2016-17 Steelfab Building Systems Deputy Commissioner Of Income Embassy Centre, 604, Tax, Central Circle – 1(2), 6Th Floor, Jamnalal Bajaj Mumbai Vs. Road, Nariman Point, Mumbai – 400 021 (Pan : Aaxfs5995B) (Appellant) (Respondent)

For Appellant: Shri Fenil Bhatt, AdvocateFor Respondent: Shri Aditya M. Rai, Sr. DR
Section 143(1)Section 143(3)Section 271(1)(c)Section 32

…depreciation actually taken into account or granted and given effect to, i.e., debited by the Income-tax Officer against the incomings of the business in computing the taxable income of the assessee”. We also refer to the decision of Sakthi Metal Depot [2011] 333 ITR 492 (Ker), wherein Hon'ble High Court in para-4, while allowing the appeal of the Revenue, held that WDV to be taken is the WDV available as on the date of ending of previous year 6 Steelfab Building Systems AY 2016-17 in which depreciation was allowed last. Accordingly, in the present case before us, WDV as on 31.03.2003 of Rs.33,02,106/- is to be…

Late Pravinchandra Dwarkadas Dalal (Legal Heir Hiten Pravinchandra Dalal), Mumbai vs. Dy Commissioner of Income Tax It Circle 42(3)(1) Erstwhile Circle 33(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 5367/MUM/2024[2017-18]Status: DisposedITAT Mumbai21 Feb 2025AY 2017-18

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2017-18

For Appellant: Shri Nitesh Joshi, AdvocateFor Respondent: Shri Krishna Kumar – Sr. DR
Section 143(3)Section 32Section 50

…depreciation actually taken into account or granted and given effect to, i.e., debited by the Income-tax Officer against the incomings of the business in computing the taxable income of the assessee”. We also refer to the decision of Sakthi Metal Depot [2011] 333 ITR 492 (Ker), wherein Hon'ble High Court in para-4, while allowing the appeal of the Revenue, held that WDV to be taken is the 11 Late Pravinchandra Dwarkadas Dalal., AY 2017-18 WDV available as on the date of ending of previous year in which depreciation was allowed last. Accordingly, in the present case before us, WDV as on 31.03.2003 of Rs.33,02,106/…

Sonia Pathak Khanna, Mumbai vs. Income Tax Officer-25(1)(2), Mumbai

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 1193/MUM/2024[2014-15]Status: DisposedITAT Mumbai12 Jul 2024AY 2014-15

Bench: Shri Prashant Maharishi, Am Income Tax Officer, Sonia Pathak Khanna, Ward 25(1)(2) Flat No.14, 5Th Floor, Room No. 204, 2Nd Floor, Kodinar, Model Town, Off Kautilya Bhavan, C-41 To C- J.P. Road, Four Bungalows, 43 Vs. Andheri (W), Mumbai-400 G Block, Bandra Kurla 053 Complex, Bandra(E), Mumbai-051 (Appellant) (Respondent) Pan No. Aabpp6359C Assessee By : Shri K Gopal, Ar : Shri R.R. Makwana, Dr Revenue By Date Of Hearing: 13.06.2024 Date Of Pronouncement : 12.07.2024

For Appellant: Shri K Gopal, AR
Section 143(3)Section 541Section 54F

…Builders Pvt. Ltd. 281 ITR 210 Bombay, decision of the Hon'ble Supreme Court in case of CIT vs. Dempo Company Ltd. 387 ITR 354. On the issue of the decision relied upon by the learned CIT (A) in case of Sakthi Metal Depot (supra) of Hon'ble Kerala High Court 333 ITR 492, he submits that in that judgment the deduction for section 54/54F of the Act Sona Pathak Khanna; A.Y. 2014-15 was not an issue. He submitted that the facts of the case are whether on sale of building on which depreciation was allowed for several years where the capital gain is chargeable to tax as short term capital gain. It is not in dispute th…

Pride and Expert Properties Private Limited, Bengaluru vs. Deputy Commissioner of Income-Tax, Central Circle-1 (1), Pune

In the result, appeal of the assessee is allowed for statistical purposes

ITA 397/PUN/2020[2013-14]Status: HeardITAT Pune16 Nov 2022AY 2013-14

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

For Appellant: Shri Suhas BoraFor Respondent: Shri Sardar Singh Meena
Section 2(11)Section 32Section 50

…these assets on which depreciation has been claimed by the assessee in earlier years, short term capital gain arises and not long term capital gain and also placed reliance on the decision of Kerala High Court in the case of CIT Vs. Sakhti Metal Depot (2010) 333 ITR 492 (Ker). The ld. AO therefore, assessed a sum of Rs. 6,62,56,535/- as short term capital gain for the assessee. 3. Thereafter, when the matter travelled before the ld. CIT(A) the assessee submitted as follows: “During the appeal proceedings, it was submitted that the buildings/constructed spaces in question had never been used for the business pu…

Texmo Induustries, Coimbatore vs. ACIT-4, Coimbatore

In the result, the appeals filed by the assessee in ITA Nos

ITA 566/CHNY/2021[2013-14]Status: DisposedITAT Chennai08 Jun 2022AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri K. Vignesh, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 143(3)Section 14ASection 154Section 2(11)Section 263Section 50

…essment years 2008-09, 2010-11 & 2013-14 in ITA Nos.3145, 3146 & 3147/Mds/2016 dated 22.03.2017 reversed the order of CIT(A) and confirmed the order of AO by following the decision of Hon’ble Kerala High Court in the case of CIT vs. Sakthi Metal Depot, [2011] 333 ITR 492, wherein the Tribunal allowed the appeals filed by Revenue by observing as under:- ITA Nos.562 to 566/Chny/2021 4 22. We have heard both the sides and perused the material on record. Similar issue can be considered by the Kerala High Court in the case of CIT Vs. Sakthi Metal Depot reported in [2011] 333 ITR 492 (Ker) wherein held that: “allowing…

Texmo Industries, Combatore vs. ACIT-4, Coimbatore

In the result, the appeals filed by the assessee in ITA Nos

ITA 565/CHNY/2021[2010-11]Status: DisposedITAT Chennai08 Jun 2022AY 2010-11

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri K. Vignesh, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 143(3)Section 14ASection 154Section 2(11)Section 263Section 50

…essment years 2008-09, 2010-11 & 2013-14 in ITA Nos.3145, 3146 & 3147/Mds/2016 dated 22.03.2017 reversed the order of CIT(A) and confirmed the order of AO by following the decision of Hon’ble Kerala High Court in the case of CIT vs. Sakthi Metal Depot, [2011] 333 ITR 492, wherein the Tribunal allowed the appeals filed by Revenue by observing as under:- ITA Nos.562 to 566/Chny/2021 4 22. We have heard both the sides and perused the material on record. Similar issue can be considered by the Kerala High Court in the case of CIT Vs. Sakthi Metal Depot reported in [2011] 333 ITR 492 (Ker) wherein held that: “allowing…

Texmo Industries, Coimbatore vs. ACIT, Ncc-4, Coimbatore

In the result, the appeals filed by the assessee in ITA Nos

ITA 564/CHNY/2021[2010-11]Status: DisposedITAT Chennai08 Jun 2022AY 2010-11

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri K. Vignesh, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 143(3)Section 14ASection 154Section 2(11)Section 263Section 50

…essment years 2008-09, 2010-11 & 2013-14 in ITA Nos.3145, 3146 & 3147/Mds/2016 dated 22.03.2017 reversed the order of CIT(A) and confirmed the order of AO by following the decision of Hon’ble Kerala High Court in the case of CIT vs. Sakthi Metal Depot, [2011] 333 ITR 492, wherein the Tribunal allowed the appeals filed by Revenue by observing as under:- ITA Nos.562 to 566/Chny/2021 4 22. We have heard both the sides and perused the material on record. Similar issue can be considered by the Kerala High Court in the case of CIT Vs. Sakthi Metal Depot reported in [2011] 333 ITR 492 (Ker) wherein held that: “allowing…

Texmo Industries, Coimbatore vs. ACIT-4, Coimbatore

In the result, the appeals filed by the assessee in ITA Nos

ITA 563/CHNY/2021[2008-09]Status: DisposedITAT Chennai08 Jun 2022AY 2008-09

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri K. Vignesh, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 143(3)Section 14ASection 154Section 2(11)Section 263Section 50

…essment years 2008-09, 2010-11 & 2013-14 in ITA Nos.3145, 3146 & 3147/Mds/2016 dated 22.03.2017 reversed the order of CIT(A) and confirmed the order of AO by following the decision of Hon’ble Kerala High Court in the case of CIT vs. Sakthi Metal Depot, [2011] 333 ITR 492, wherein the Tribunal allowed the appeals filed by Revenue by observing as under:- ITA Nos.562 to 566/Chny/2021 4 22. We have heard both the sides and perused the material on record. Similar issue can be considered by the Kerala High Court in the case of CIT Vs. Sakthi Metal Depot reported in [2011] 333 ITR 492 (Ker) wherein held that: “allowing…

Texmo Industries, Coimbatore vs. ACIT, CC-4, Coimbatore

In the result, the appeals filed by the assessee in ITA Nos

ITA 562/CHNY/2021[2008-09]Status: DisposedITAT Chennai08 Jun 2022AY 2008-09

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri K. Vignesh, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 143(3)Section 14ASection 154Section 2(11)Section 263Section 50

…essment years 2008-09, 2010-11 & 2013-14 in ITA Nos.3145, 3146 & 3147/Mds/2016 dated 22.03.2017 reversed the order of CIT(A) and confirmed the order of AO by following the decision of Hon’ble Kerala High Court in the case of CIT vs. Sakthi Metal Depot, [2011] 333 ITR 492, wherein the Tribunal allowed the appeals filed by Revenue by observing as under:- ITA Nos.562 to 566/Chny/2021 4 22. We have heard both the sides and perused the material on record. Similar issue can be considered by the Kerala High Court in the case of CIT Vs. Sakthi Metal Depot reported in [2011] 333 ITR 492 (Ker) wherein held that: “allowing…

CIT v. Sakthi Metal Depot (333 ITR 492) — Cited in 9 Judgments | BharatTax