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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

5. The return of income filed by M/s Classic Network Private Limited for A.Υ.2013- 14 was processed u/s 143(1) on 28-09-2014 at returned income of Rs. 10,55,46,860/- Thereafter, the case was selected for scrutiny and the assessment u/s 143(3) was completed on 25-03-2016 at Rs.10,55,74,940/-. Thus

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

133A of the Act. As a result of survey, the statement of the assessee under section 131(1A) was recorded wherein the assessee has claimed to have earned income from the business of shipping agency which was not disclosed in the income tax return. The assessee simultaneously during the survey proceedings agreed to disclose an income

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

133A of the Act. As a result of survey, the statement of the assessee under section 131(1A) was recorded wherein the assessee has claimed to have earned income from the business of shipping agency which was not disclosed in the income tax return. The assessee simultaneously during the survey proceedings agreed to disclose an income

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

133A of the Act. As a result of survey, the statement of the assessee under section 131(1A) was recorded wherein the assessee has claimed to have earned income from the business of shipping agency which was not disclosed in the income tax return. The assessee simultaneously during the survey proceedings agreed to disclose an income

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

133A of the Act. As a result of survey, the statement of the assessee under section 131(1A) was recorded wherein the assessee has claimed to have earned income from the business of shipping agency which was not disclosed in the income tax return. The assessee simultaneously during the survey proceedings agreed to disclose an income

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

5,62,50,000/- for the year under\nconsideration invoking provisions of section 145(3) of the Act.\n17. Aggrieved by the order of the assessing officer, the assessee carried the\nmatter in appeal before the Ld.CIT(A), who has reduced the estimated profit\nfrom 50% to 18% of on money receipts. The Ld.CIT(A) also rejected the\nassessee

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2,, RAJKOT vs. SHRI NILESH NATWARLAL SHETH, , RAJKOT

In the result, the CO filed by the assessee is dismissed

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita No. 38/Rjt/2018 With C.O No.16/Rjt/2018 िनधा"रण वष"/Asstt. Years: 2009-2010 D.C.I.T., Shri Nilesh Natwarlal Sheth, Central Circle-2, Vs. Prop. Of M/S.Kruna Finvest, Rajkot. 403-Star Chambers, Harihar Chowk, Rajkot.

133A of the Act was carried on the premises of several stock broker wherein it was found that they were engaged in shifting profit and loss to investors in order to evade taxes by making client code modifications as a tool. As per the data received from the NSE, the assessee is one of the beneficiaries of client code modification