KANAIYA FOOD PRODUCTS,JAMKANDORANA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1, RAJKOT

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 336/Rjt/2024 (Assessment Year: 2017-18) (Hybrid Hearing) Kanaiya Food Products, Vs. The Principal Commissioner Of A A, Dhoraji Jamkandorana Income Tax-1, Rajkot 2Nd Floor, Aaykar Bhawan, Race Road, Near Gujarat Pani Purvatha Tank, Course Ring Road, Rajkot Jamkandodrana-360405 Rajkot-361006 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aamfk9437F (अपीलाथ"/Appellant) (""यथ"/Respondent)

b) of sub-section (3) of section 40A where any payment in a sum exceeding twenty thousand rupees is made otherwise than by an account payee cheque drawn on a bank or account payee bank draft.The assessee furnished the confirmation letter from Agriculturists and Copy of AADHAR for identity proof and 7/12, 8A to prove that they are farmers

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

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

2 to section 147 are applicable to facts of this case andl have reasons to believe that the amount of Rs.25,00,000/-being sum as unexplained cash transaction[also violation of section 40A(3) of the Act] is chargeable to tax has escaped within the meaning of Sec 147 of the Act and the assessment year under consideration

M/S. GREEN EARTH BIOGAS PVT. LTD.,SURENDRANAGAR vs. THE PR. CIT-3, AHMEDABAD, AHMEDABAD

In the result, appeal filed by the assessee is dismissed

reassessed or recomputed as loss than\nthe amount of tax will be calculated on the under reported\nincome as it was the total income.\nThis finding is w.r.t. disallowance of Rs.70,71,531/- of\npreliminary and pre operating expenses charge to revenue\nbefore date of assets put to use and dropping out penalty\nproceedings initiated under section