SHRI AJAYBHAI ISHWARLAL GOGIA,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-1 (2) (5), RAJKOT

In the result, the assessee’s appeal is allowed

penalty u/s 271(1)(c) of the Act. 7.1 Now, on the first issue, in various cases it has been held that if asset mortgaged has been transferred, it would amount to capital gains in hands of the owner of asset, even if no consideration has been received on such transfer. In the case of CIT vs. Attili

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

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

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 ITR 303 TR St. P-18 (SC) held that:"When the addition of income is based on estimate, penalty

M/S. KASHISH ENTERPRISE,,BHUJ vs. THE INCOME TAX OFFICER, WARD-2,, BHUJ

In the result, appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 256/Rjt/2014 "नधा"रण वष"/Assessment Year: 2009-10 M/S. Kashish Enterprise Vs. Ito, Poonam Apartment, New Ward – 2, Station Road, Bhuj-Kutch Bhuj. अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri M. J. Ranpura, A.R. Revenue By : Shri Praveen Verma, Sr. D. R. सुनवाई क" तार"ख/Date Of Hearing : 28.08.2018 घोषणा क" तार"ख /Date Of Pronouncement : 15.10.2018 आदेश/O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Appellate Order Of The Learned Commissioner Of Income-Tax (Appeals)-Ii, Rajkot [“Cit(A)” In Short] Relevant To Assessment Year 2009-10. 2. Assessee Has Raised The Following Grounds Of Appeal:- "1.0 The Grounds Of Appeal Mentioned Hereunder Are Without Prejudice To One Another. 2.0 The Ld Cit(A)-Ii, Rajkot [Cit(A)] Erred In Facts As Also In Retaining Levy Of Penalty U/S 271(1)(C) Of The Act On Income Of Rs.55,53,360/-. The Penalty U/S 271(1)(C) Of The Act May Kindly Be Deleted. 3.0 The Honor’S Appellant Craves Leave To Add, Amend, Alter Or Withdraw Any Or More Grounds Of Appeal On Or Before The Hearing Of Appeal.”

penalty u/s 271(1)(c) of the Act for Rs. 55,53,360/-. 2 Kashish Enterprises vs. ITO. AY : 2009-10 4. Briefly stated facts are that the assessee is partnership firm and engaged in the business of Civil Construction. There was a survey u/s 133A of the Act at the premises of the assessee dated

M/S. SIMERO VITRIFIED P. LTD. ,MORBI vs. THE PR. CIT-3 , RAJKOT

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Us Is A Private Limited Company & Engaged In The Business Of Manufacturing Of Vitrified Tiles. The Return Of Income Has Been E-Filed By The Assessee, On 10/09/2016 For Assessment Year (A.Y.) 2016-17, Reporting Loss Of Rs. 5,68,00,829/-, Which Was Later Revised On 09/03/2018, Declaring Total Loss Of Rs. 13,97,40,413/-, Claiming Investment Allowance U/S 32Ac Of The Income Tax Act. The Case Has Been Selected For Complete Scrutiny (Cass) Specifically To Examine The Followings: 1) Whether Outward Foreign Remittance Is From Disclosed Sources & Appropriate Withholding & Reporting Obligation Have Been Complied With; 2) Whether Investment & Income Relating To Properties Are Duly Disclosed; 3) Whether Receipt Of Foreign Remittance Has Been Correctly Offered For Tax And, 4) Whether Sundry Creditors Are Genuine. 4. The Assessment Order U/S 143(3) For The Assessment Year (A.Y.) 2016-17 Was Passed By Dcit, Morbi Circle, Morbi, Being The Assessing Officer (Ao), On 21/12/2018, Allowing The Loss Claimed Of Rs. 13,97,40,413/- To Be Carry Forward To Subsequent Years. 2

48,186 3 Electrification 4,25,00,454 4 Total 55,29,30,557 5 15% of above (u/s32AC) 8,29,39,584 From the above working, it can be seen that entire electrification expense of Rs. 4,25,00,454/-, is considered for Plant and Machinery. In reality, it cannot be so because a certain portion of the same

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ACIT, CENTRAL CIRL-1,, RAJKOT

In the result, appeals filed by the Revenue, in ITA No

Bench: Dr. Arjun Lal Saini & Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 134 & 135/Rjt/2023 (िनधा"रणवष" / Assessment Years: (2007-08 & 2008-09) Income Tax Officer, Ward- Shri Kherajmal Lekhrajbjai 5Th 1(2)(1), Aaykar Bhavan, Thavrani, 4- Parsana Nagar, Shri Vs. Floor, Room No. 517, Race Vaheguru Grupa, Near Refugee Course Ring Road, Rajkot-360 Colony, Rajkot-360 001 001 "थायी लेखा सं./जी आइ आर सं./Pan/Gir No.: Adrpt 5807 E (Appellant) (Respondent)

Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated for concealing the particulars of income." 3.12.2. Same finding has been given by the A.O. for the other assessment years in all the case of above mentioned appellant. During the appellate proceedings, the appellant filed detailed submission against the additions made. The appellant contended that they are engaged

THE ACIT, CIRCLE- 1,, RAJKOT-GUJARAT vs. SMT. MANISHABEN N. MASHRU,, RAJKOT-GUJARAT

In the result, appeal of the Revenue in ITA No

Bench: Shri Pramod Kumar & Shri Rajpal Yadavsr.No.

penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961 for the Assessment Years 2004-05 and 2005-06. Since in all these appeals/cross- objections, issues and facts are intertwined to each other, we proceed to dispose of all by this common order for the sake of brevity and convenience. 3. Before adverting