Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: VAT Audit :: cpt :: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment
From the Courts »
 Commissioner Of Income Tax, Delhi Vs. M/s. Maruti Udyog Ltd
 Pr. Commissioner Of Income Tax - 6 Vs. M/s. Mohan Export India Private Limited
 Principal Commissioner Of Income Tax-7 Vs. Oriental International Co. Pvt. Ltd.
 Pr. Commissioner Of Income Tax-2 Vs. British Motor Car Co.(1934) Ltd
  Vidyadayani Shiksha Samiti vs. CIT (ITAT Delhi)
 Halcrow Consulting India Pvt. Ltd vs. DCIT (ITAT Delhi)
 ACIT vs. TRN Energy Pvt. Ltd (ITAT Delhi)
 Aditya Chemicals Ltd vs. ITO (ITAT Delhi)
 Gayatri Aggarwal Vs. Income Tax Commissioner & Ors.
 Paradigm Geophysical Pvt. Ltd. Vs. Commissioner Of Income Tax (International Taxation)-3, New Delhi
 Download Companies (Amendment) Act, 2017

Jaguar Enterprises, 232/234, Shopping Complex Flyover, Defence Colony, New Delhi. Vs. DCIT, Circle-32(1), New Delhi.
July, 08th 2014
              DELHI BENCHES : D : NEW DELHI


                 ITA Nos.1814 & 1816/Del/2014
             Assessment Years : 2007-08 & 2009-10

Jaguar Enterprises,         Vs.   DCIT,
232/234, Shopping Complex         Circle-32(1),
Flyover,                          New Delhi.
Defence Colony,
New Delhi.


  (Appellant)                        (Respondent)

           Assessee By       : Shri Atul Puri, CA
           Department By     : Shri S.N. Bhatia, Sr.DR



     These two appeals filed by the assessee based on similar

facts and almost similar grounds relating to assessment years

2007-08 and 2009-10 arise out of a common order passed by the

ld. CIT(A) on 21.02.14.
                                                ITA Nos.1814 & 1816/Del/2014

2.    It is relevant to mention that the appeal of the assessee for

the A.Y. 2008-09 was fixed in this batch of appeals. Even the

impugned order also covers the       A.Y.2008-09. The submissions

were made by both the sides qua the appeal for the A.Y. 2008-09.

In so far as the present appeals are concerned, both the parties

have adopted their arguments made for the A.Y. 2008-09, for

which we have passed a separate order.

3. As the facts and circumstances of these two appeals are

mutatis mutandis similar to those for the A.Y. 2008-09, following

the view taken there in, we hold that the ld. CIT(A) was not

justified in holding that : -

a. 8% net profit rate be applied on the amount of `Other Clearing

expenses', which was reimbursed by the clients to the assessee;


b. provisions of section 40(a)(ia) are not applicable on the

`Godown rent' paid by the assessee for its clients as the assessee

did not claim any deduction for such amounts.

                                                    ITA Nos.1814 & 1816/Del/2014

4.        The grounds regarding initiation of re-assessment were not

pressed by the ld. AR. The same, therefore, stand dismissed.

5.        In the result, both the appeals are partly allowed.

          The order pronounced in the open court on 03.07.2014.

               Sd/-                                       Sd/-

    [R.S. SYAL]                                      [C.M. GARG]
ACCOUNTANT MEMBER                                  JUDICIAL MEMBER

Dated, 03th July, 2014.


Copy forwarded to:

     1.   Appellant
     2.   Respondent
     3.   CIT
     4.   CIT (A)
     5.   DR, ITAT

                                                   AR, ITAT, NEW DELHI

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions