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: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: form 3cd
From the Courts »
 Order of a Four-Member Appellate Authority constituted under Chartered Accountants Act is Valid: Delhi HC
 Emami Infrastructure Ltd vs. ITO (ITAT Kolkata)
  Anand Agarwal vs. Vilas Chandrakant Gaokar (Bombay High Court)
 Bar Council of India vs. A. K. Balaji & Ors (Supreme Court)
 ITO vs. Venkatesh Premises Co-op Society Ltd (Supreme Court)
 Pr CIT vs. Amphenol Interconnect India P. Ltd (Bombay High Court)
 Pr CIT vs. Amphenol Interconnect India P. Ltd (Bombay High Court)
 Anand Agarwal vs. Vilas Chandrakant Gaokar (Bombay High Court)
 Principal Commissioner Of Income Tax (Central)-I Vs. Smt. Ritu Singal
 Vinod Kumar Gupta Vs. Deputy Commissioner Of Income Tax Central Circle-17
 How you can gift and still save tax on top of HRA, tuition fee, more Income Tax Returns (ITR) filing top hack

Gautam Vedi H. No. 69A, Sainik Farms, New Delhi. C/o Kapil Goel Adv. A-1/25 Sector 15 Rohini, Delhi. Vs. ACIT Central Circle-1, New Delhi.
August, 22nd 2014
                DELHI BENCH "C" NEW DELHI

                         ITA Nos. 6265, 6266 & 6267/Del/2012
                         Asstt. Yrs: 2008-09, 2010-11 & 2011-12
Gautam Vedi                           Vs. ACIT Central Circle-1,
H. No. 69A, Sainik Farms,                   New Delhi.
New Delhi.
C/o Kapil Goel Adv.
A-1/25 Sector 15 Rohini, Delhi.

                       ITA Nos. 83, 84 & 85/Del/2013
                       Asstt. Yrs: 2008-09, 2010-11 & 2011-12
ACIT Central Circle-1,              Vs. Gautam Vedi
New Delhi.                                New Delhi.

( Appellant )                               ( Respondent )

            Assessee by         :     Shri Kapil Goel Adv.
            Revenue by          :     Shri R.S. gill CIT(DR)

            Date of hearing     :     23-07-2014
            Date of order       :     14-08-2014.



      The captioned cross-appeals, filed by the assessee as well as the
revenue, arise out of separate orders of ld. CIT(A) relating to A.Y. 2008-09,
2009-10 and 2010-11. All these appeals are heard together and disposed of
by a common order for the sake of convenience.
                                       2               ITA 6255 to 6267/D/12 & 83 to 85/D/13
                                                                               Gautam Vedi

2.     Brief facts of the case are that search & seizure operation was carried
out on 2-9-2009 in the group cases of M/s Imperial Auto Industries Ltd.,
Faridabad. A search operation u/s 132(1) was also carried out on 2-9-2009 at
the residential premises of the assessee Shri Gautam Vedi, H. No. 69A,
Sainik Farms, New Delhi. In course of search operation, cash jewellery and
documents/ books were seized and impounded from the residential premises
of the assessee. In response to notice u/s 153A(1), assessee filed returns of
income on 1-11-2011 declaring incomes of Rs. 3,15,040/- (A.Y. 2008-09);
Rs. 9,57,740/- (A.Y. 2009-10); and Rs. 14,35,260/- (A.Y. 2010-11).
Assessments were completed at total incomes of Rs. 1,83,35,090/- (A.Y.
2008-09); Rs. 4,89,78,410/- (A.Y. 2009-10); and Rs. 4,23,82,490/- (A.Y.
2010-11) by making various additions. Ld. CIT(A) partly allowed the
assessee's appeals. Being aggrieved with the orders of ld. CIT(A), both the
assessee and the department are in appeal before us.
3.     Ld. Counsel for the assessee submitted that though the assessee has
got part relief before CIT(A) but in all fairness the maters need to go back to
the assessing officer because the assessee's explanations on various issues
have not duly been considered. He submitted that on the relief allowed by
the ld. CIT(A) also, the matters may be restored back to the file of assessing
officer to consider the assessee's explanations de novo with reference to all
the annexures prepared in course of search proceedings. He, therefore,
submitted that all the appeals may be restored back to the file of assessing
4. Ld. CIT(DR) agreed that considering the entirety of facts and circumstances it would be in the interest of justice that the matters be restored back to the file of assessing officer. Therefore, as agreed by both the parties, orders of authorities below for all the three assessment years in 3 ITA 6255 to 6267/D/12 & 83 to 85/D/13 Gautam Vedi question are set aside and the matters are restored to the file of assessing officer for assessments de novo as per law, after considering assessee's explanations, including the prayers/ relief claimed as per revised abridged grounds of appeal dated 5-11-2013 filed before us, by affording reasonable opportunity of being heard to the assessee. We order accordingly. 5. In the result, all the appeals preferred by the assessee as well as the revenue stand allowed for statistical purposes. Order pronounced in open court on 14-08-2014. Sd/- Sd/- ( C.M. GARG ) ( S.V. MEHROTRA ) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 14-08-2014. MP Copy to : 1. Assessee 2. AO 3. CIT 4. CIT(A) 5. DR
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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