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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

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

section 147/148 of the Act, therefore, reassessment proceedings may be quashed. Page 23of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) 35. The Ld. Counsel also submitted that the reopening of assessment was made for particular reasons, say, for X, however, ultimate addition was made on different footing, say, for Y, therefore, re-assessment

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. SHRI MUKESH MANEKCHAND SHETH, RAJKOT

37\nof this order). This means that while reopening the proceedings, assessing officer\nhad formed an opinion and a belief that, either search has been carried out in\nassessee's case or that assessee`s representative of any other search person (In\nthis case of RK Group). Thus, the very initiation of the reassessment\nproceedings is on a completely incorrect

MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment' cannot he reduced beyond the income originally assessed.' 14.9 In the light of above decision and after analyzing all the facts as discussed above, we find that the assessee is entitled to claim the deduction of the expenditures in respect of which the escaped income has sought to be assessed. The loss from the share trading activity has direct

MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment' cannot he reduced beyond the income originally assessed.' 14.9 In the light of above decision and after analyzing all the facts as discussed above, we find that the assessee is entitled to claim the deduction of the expenditures in respect of which the escaped income has sought to be assessed. The loss from the share trading activity has direct

SHRI MANISH GYANCHAND JAIN ,GANDHIDHAM vs. THEACIT, GANDHIDHAM CIRCLE, GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment' cannot he reduced beyond the income originally assessed.' 14.9 In the light of above decision and after analyzing all the facts as discussed above, we find that the assessee is entitled to claim the deduction of the expenditures in respect of which the escaped income has sought to be assessed. The loss from the share trading activity has direct

MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment' cannot he reduced beyond the income originally assessed.' 14.9 In the light of above decision and after analyzing all the facts as discussed above, we find that the assessee is entitled to claim the deduction of the expenditures in respect of which the escaped income has sought to be assessed. The loss from the share trading activity has direct

ABDULKADAR HAJIAHMED VADIWALA,JAMNAGAR vs. PR. COMMISSIONER OF INCOME TAX, JAMNAGAR

In the result, appeal filed by the assessee, is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.103/Rjt/2025 "नधा"रणवष"/ Assessment Year: 2016-17 Abdulkadar Hajiahmed Vadiwala The Pr.Cit बनाम Maniar Street, Lindi Bazar Jamanagar. Jamnagar-361001 Vs. Pan : Aatpv 4729 Q (अपीलाथ"/Assessee) : (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ld.Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Ld.Cit-Dr

37,77,313/-. The assessment was reopened by issue of notice under section 148 of the Act on 23.04.2021 and notice was deemed to be a notice issued under section 148A(b) as per the directions of the Hon'ble Supreme Court in the case Ashish Agrawal (supra). The AO issued a notice under section 148 dated 30.07.2022 after passing