CIT v. Arkay Saree Museum

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAJKOT, RAJKOT vs. CLASSIC NETWORK PVT. LTD., RAJKOT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAJKOT vs. CLASSIC NETWORK PVT. LTD., RJAKOT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

CLASSIC NETWORK PRIVATE LIMITED,RAJKOT vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1, RAJKOT, RAJKOT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

CLASSIC NETWORK PRIVATE LIMITED,RAJKOT vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL - 1, RAJKOT, RAJKOT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

CLASSIC NETWORK PRIVATE LIMITED,RAJKOT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1 RAJKOT, RAJKOT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

…In absence of any such material brought on record by the revenue, in our considered opinion merely because of difference due to estimate penalty under section 271(1)(c) cannot be levied. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that "Mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c), now section 270A, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP…

SANJAYKUMAR VALLABHBHAI PAN (HUF),RAJKOT vs. ITO, WARD-2(1)(1), RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं /.Ita No.958/Rjt/2024 "नधा"रणवष"/ Assessment Year: 2012-13 Sanjaykumar Vallabhbhai Pan (Huf) The Ito, Ward-2(1)(1) बनाम 703-, Pyramid Tower Rajkot. Bansi Park Vs. Amin Marg Rajkot 360 001. Pan : Aaohs 9548 F (अपीलाथ"/Assessee) (""यथ"/Respondent) :

…s been assessed as income, and (ii) the circumstances must show that there was i.e., conscious concealment or act of furnishing of inaccurate particulars on the part of the assessee." 10. Hon'ble Bombay High Court has in the case of CIT vs. Arkay Saree Museum 187 ITR 147 (Bom) held that; “mere addition to income on estimated basis would not constitute basis for levy of penalty u/s. 271(1)(c) of the Act, unless the revenue proves the ingredients of concealment or that of furnishing of inaccurate particulars." The Hon'ble High Court of Punjab & Haryana has in the case of CIT vs. Sangrur Vanaspati Mills Ltd. (SLP IT…

PANKAJKUMAR CHIMANLAL LODHIYA,RAJKOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.76 To 80/Rjt/2022 निर्धारणवर्ष /Assessment Year: 2008-09 To 2012-13 & आयकर अपीलसं/.Ita No. 81/Rjt/2022 निर्धारणवर्ष /Assessment Year: 2014-15 Shri Pankaj Chimanlal Lodhiya 3Rd Floor, Parth, Diwanpara Main Road, Rajkot-3600 001 Pan: Aampl 3903 F (अपीलार्थी/Assessee) बनाम Vs. Assistant Commissioner Of Income-Tax, Central Circle-2 Rajkot, 2Nd Floor, Amruta Estate, M.G. Rad, Rajkot-360 001 (प्रत्यर्थी/Respondent) निर्धारिती की ओर से/Assessee By : Shri Mehul Ranpura, Ar राजस्व की ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr सुनवाई की तारीख/Date Of Hearing घोषणा की तारीख/Date Of Pronouncement : 05/03/2025 : 30/04/2025 Order Per Bench, Captioned Six Appeals Filed By The Assessee, Pertaining To The Assessment Years (Ays) 2008-09 To 2012-13 & Ay 2014-15, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), (“Ld.Cit(A)” For Short) Under Section 250 Of The Income Tax Act, 1961 (“The Act" For Short), Which In Turn Arise Out Of Separate Penalty Orders, Passed By The Assessing Officer U/S 271(1)(C) & 271Aab(1)(C) Of The Act.

…आयकर अपीलीय अधिकरण, राजकोटन्यायपीठ, राजकोट । IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं/.ITA No.76 to 80/RJT/2022 निर्धारणवर्ष /Assessment Year: 2008-09 to 2012-13 AND आयकर अपीलसं/.ITA No. 81/RJT/2022 निर्धारणवर्ष /Assessment Year: 2014-15 Shri Pankaj Chimanlal Lodhiya 3rd Floor, Parth, Diwanpara Main Road, Rajkot-3600 001 PAN: AAMPL 3903 F (अपीलार्थी/Assessee) बनाम Vs. Assistant Commissioner of Income-tax, Central Circle-2 Rajkot, 2nd Floor, Amruta Estate, M.G. Rad, Rajkot-360 001 (प्रत्यर्थी/…

PANKAJKUMAR CHIMANLAL LODHIYA,RAJKOT vs. THE ACTIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.76 To 80/Rjt/2022 निर्धारणवर्ष /Assessment Year: 2008-09 To 2012-13 & आयकर अपीलसं/.Ita No. 81/Rjt/2022 निर्धारणवर्ष /Assessment Year: 2014-15 Shri Pankaj Chimanlal Lodhiya 3Rd Floor, Parth, Diwanpara Main Road, Rajkot-3600 001 Pan: Aampl 3903 F (अपीलार्थी/Assessee) निर्धारिती की ओर से/Assessee By : Shri Mehul Ranpura, Ar राजस्व की ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr सुनवाई की तारीख/Date Of Hearing : 05/03/2025 घोषणा की तारीख/Date Of Pronouncement : 30/04/2025 Order Per Bench, Captioned Six Appeals Filed By The Assessee, Pertaining To The Assessment Years (Ays) 2008-09 To 2012-13 & Ay 2014-15, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), (“Ld.Cit(A)” For Short) Under Section 250 Of The Income Tax Act, 1961 (“The Act" For Short), Which In Turn Arise Out Of Separate Penalty Orders, Passed By The Assessing Officer U/S 271(1)(C) & 271Aab(1)(C) Of The Act.

…आयकर अपीलीय अधिकरण, राजकोटन्यायपीठ, राजकोट । IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं/.ITA No.76 to 80/RJT/2022 निर्धारणवर्ष /Assessment Year: 2008-09 to 2012-13 AND आयकर अपीलसं/.ITA No. 81/RJT/2022 निर्धारणवर्ष /Assessment Year: 2014-15 Shri Pankaj Chimanlal Lodhiya 3rd Floor, Parth, Diwanpara Main Road, Rajkot-3600 001 PAN: AAMPL 3903 F (अपीलार्थी/Assessee) निर्धारिती की ओर से/Assessee by : Shri Mehul Ranpura, AR राजस्व की ओर से/Revenue by : Shri Sanjay Punglia, CIT-DR सुनवाई की तारीख/Date o…