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INTERVIEW OF Dr. RAKESH GUPTA ( FCA, FCS, AICWA, LLB, PhD, Ex- Member, Income Tax Appellate Tribunal ) BY CA. NEHA JAIN……

Welcome Dr. Rakesh Gupta,


Today we are very privileged for having some words with you. We know sir; your time is so precious so we will take very small time from you sir.


Que 1: What accomplishment in your career to date are you most proud of?


Answer: It is difficult to single out one. My first appearance in Court of Chief Justice of India, My first case in High Court titled as Pushpa Godhwani vs. CIT which I won and was reported in ITR, My selection in first attempt as Member in Income Tax Appellate Tribunal at the age of 37 are some events, I can not say that I am proud of, but are the events which I fondly remember.


Que 2: What do you think are the most important five things to be successful    in career and life?


Answer: Hard work, Humilty, Helping others selflessly, Attitude to sacrifice, positive attitude towards life are some important things which matter to be successful in life.


Que 3: When have you been most satisfied in your career?


Answer: When I argued the case of VKJ Builders P Ltd. in Hon’ble Supreme Court whereby the decision of Uttarakhand High Court which was against the assessee was reversed by the apex court.


Que 4: You have got almost all Professional qualifications i.e FCA, FCS, AICWA,  LLB, PhD?  Any other your ambition or you want to do.


Answer: Yes I wanted to do MBA which I could not do earlier but now I am doing it. I want to do LLM also which I intend to do after my MBA.


Que 5: The trade and Industry is waiting for the GST / DTC / New Companies Bill. How do you see the role of ICAI in the initial stage of Introduction of GST / DTC / New Companies Bill and it’s smooth journey?


Answer: Institute as usual is expected to contribute towards the professional acclimatization of its members to these new legislations by holding seminars and conferences and give feedback and suggestion for improvements in these spheres to those in Government, who administer them so that introduction becomes smooth and at the same time, initial irritants are reduced to bare minimum.


Que 6: As you represent Income Tax cases before various High Courts and before Supreme Court of India, so have you ever faced any threat/challenge in any of case. 


Answer: Since the other party is Government, there is no question of any ‘threat’ while arguing tax matters. As far as ‘challenge’ is concerned, certainly there is always a challenge in complicated matters, more so when it involves evolution and development of law.


Que 7:Recently you have released a Book on ‘Search and Seizure’. Pls tell us something about it.


Answer: This book has been co-authored with my Learned partner Dr. Raj K. Agarwal and credit for this initiative goes to him. We have tried to combine the theory with practical experience in it and we have shared our practical experience of last 25 odd years in the field of search. We have devoted a portion in it as to how to face and prepare for possible search action taken by the department against an assessee and once it takes place, what actions should thereafter be taken to represent various aspects of the matters. We have also given gist of important case laws having bearing on the topic and search assessment for ready reference.


Que 8: What made you to decide to leave membership of Income Tax Appellate Tribunal and start practice?


Answer: In fact before joining tribunal also, I was in practice as chartered accountant. I being a chartered accountant and having practiced as CA, was “Accountant Member” in the tribunal which is somewhat flat kind of organization for Accountant Member, as elevation to High Court is not possible for Accountant Member. In order to have wider exposure in High Courts and Supreme Court, I left tribunal and decided to do practice before High Courts and Supreme Court which I am doing now as Lawyer.


Que 9:What are the skills that are most important for a position in your field? What skills have helped you the most?


Answer: Skill to anticipate the arguments and questions which are to come from the other side or from the Bench, skill to articulate your point of view and skill of good command on language expression are few skills which are required in the profession of law.


Que 10: What sacrifices may be necessary to be successful?


Answer: Sacrifice of personal comfort and own interest are few which are key to success in profession and personal life.


Que 11: What is the best advice someone told you?


Answer:- I remember the advice given by a gentleman at the time when I started the practice and which worked really was that “ Tel aur Mel mein kasar nahin chhodna” which translates in English to ‘One should not be a miser while expanding contacts and should not be not concerned with the expense of petrol for that reason.’ Another advice that I remember is ‘ Naam Kamana, Naama apne aap aayega’ which translates to ‘earn fame and Money shall follow automatically and if you pursue money, money will elude you and so will  fame.’


Que 12: How do you deal with challenging people or situations?


Ans: I keep on doing my work with positive attitude laced with modesty without taking any confrontation and I find after some time that challenging person and situation have turned to be opportunities for me.


Que 13: How do you keep yourself updated in your busy schedule? What materials you refer for the same?


Answer: I read tax journals prominent of which is DTR, CTR, ITR, ITD, TTJ and of course, Mumbai Tribunal bar site at itatonline.org. Journal of Bombay Chartered Accountant Society is also very useful. I take out time to read on Sundays and while traveling.


Que 14: What do you think that being professionals what we can do to stop corruption?


Answer: We as professional must avoid the temptations for shortcuts. If we resist that and take a vow not to indulge in corrupt practices of any magnitude, we will see that after initial trouble and failures, things have started falling in line.


Que 15: Do you have any special words of warning or encouragement as a result of your experience?


Answer: Our profession is very noble profession and if pursued with devotion, it has lot of satisfaction in store. We must turn our profession into passion and then we would see how satisfying our profession is.


Que 16: What are the most important personal satisfactions and dissatisfactions connected with your occupation? What part of this job do you personally find most satisfying? Most challenging?


Answer: No dissatisfaction at all. To help in the development of law is one of the most gratifying for me.


Que 17: Now something personal sir! About your native place, your family, your hobbies and your aim in the life?


Answer: I belong to Kosi Kalan, a small town in district Mathura (UP). I have my wife Annapurna who is also a CA and have two children- son Prakhar and daughter Radhika who are studying in 11th and 8th respectively at Faridabad DPS. I have my “profession” as my top most hobby followed by another hobby of traveling. My aim in life is the elevation as Judge in the High Court.


Que 18: Any message for our community (Members of casansaar)  from your side ?


Answer: Ours is a noble profession and we should do everything to contribute for the growth and development of the profession. We should desist from doing anything which may have any adverse impact on the image of the profession.


Que 19 : Last but not the least What do u have to say about CASANSAAR..We are trying our best to provide as much services to our members as we can..How do u rank our efforts..???


Answer: Your efforts deserve accolades. Three cheers for the leader and your well motivated team. Your site is source of valuable information to the members and our profession owes to you for contributing towards its growth and development.


Thanks for giving your valuable time to CASANSAAR.


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