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
Latest Expert Exchange
From the Courts »
 Smt. Arti Sharma, C/o- Kunal Aggarwal & Associates, 2nd Floor JMD Megapolis, Sector-48, Sohna Road, Gurgaon
 PCIT vs. Nawany Construction Co. Pvt Ltd (Bombay High Court)
 CIT vs. JRD Stock Brokers Pvt Ltd (Delhi High Court)
 Mr. Trilok Chand Chaudhary, 39, Gadai Pur, Mehrauli, vs. ACIT Central Circle 26, New Delhi.
 Mr. Trilok Chand Chaudhary, 39, Gadai Pur, Mehrauli, vs. ACIT Central Circle 26, New Delhi.
 Jagmal Singh Village Khoh, VPO Manesar, Gurgaon Haryana vs. ITO Ward-2(2) Gurgaon
 Mrs. Shumana Sen, B-602, Plot No.F-2, The Crescent, Sector-50, Noida, Uttar Pradesh. vs. DCIT, Circle-64(1), New Delhi.
 Commissioner Of Income Tax Vs. M/S. Ansal Properties And Industries
 Binod Kumar Agarwala vs. CIT (Calcutta High Court)
 L&T Finance Limited vs. DCIT (Bombay High Court)
 Spice Mobility Ltd. 19A & 19B, Floor No. 5 Global Knowledge Park, Sector-125 vs. Addl. CIT(TDS) Noida

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
          IN THE INCOME TAX APPELLATE TRIBUNAL
                DELHI BENCH "C" NEW DELHI
     BEFORE SHRI S.V. MEHROTRA : ACCOUNTANT MEMBER
                           AND
             SHRI C.M. GARG : JUDICIAL MEMBER

                         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.
PAN: AACPV 5093 J

                                 AND
                       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.

                                ORDER

PER BENCH::

      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
officer.
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