2015 (10) TMI 1877

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hri Raj Mehra, JCIT For The Assessee : Shri Rajeev Sogani, CA & Shri Rohan Sogani, CA ORDER PER R.P. TOLANI, JM These are three appeals filed by the Revenue and three cross objections by the assessee against three separate orders of ld. CIT (A)-I, Jaipur dated 01/06/2012 and 08/07/2011 for the assessment years 2008-09, 05-06 & 07-08. The common grounds raised in the Revenue's appeals c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r in the case of Anuj Kumar Varshney & Others vs. ITO dated 22.10.2014 has held that 15% of the unverifiable purchases shall be held to be income of the assessee from undisclosed sources in the relevant years. Therefore, the appeals may be decided in view of the ITAT order. At the same time it is pleaded that both the Revenue and Assessee have gone in appeal before Hon'ble Rajasthan High Court aga....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....store the matter back to the file of AO to decide the same afresh after the judgment of Hon'ble Rajasthan High Court in the case of Anuj Kumar Varshney & Others vs. ITO (supra) is delivered, after giving adequate opportunity of being heard to the assessee. 7. The remaining sole ground in Revenue's appeal for A.Y. 2008-09 which remains for adjudication is against directing the AO to allow deduct....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....uld have made a claim u/s 10AA. The AO rejected the submissions by observing that the mistake could not be rectified at the stage of passing of the assessment order. The assessee could revise its return of income u/s 139(5) before the expiry of one year from the end of the relevant A.Y. that is 31/03/2010 or before the completion of the assessment order, whichever was earlier. The assessee did not....