Multispectral imaging coupled with Artificial Intelligence, Machine Learning and Signal Processing techniques work as a feasible alternative for laboratory testing, especially in food quality control. Most of the recent related research has been focused on reflectance multispectral imaging but a system with both reflectance, transmittance capabilities would be ideal for a wide array of specimen types including solid and liquid samples. In this paper, a device which includes a dedicated reflectance mode and a dedicated transmittance mode is proposed. Dual mode operation where fast switching between two modes is facilitated. An innovative merged mode is introduced in which both reflectance and transmittance information of a specimen are combined to form a higher dimensional dataset with more features. Spatial and temporal variations of measurements are analyzed to ensure the quality of measurements. The concept is validated using a standard color palette and specific case studies are done for standard food samples such as turmeric powder and coconut oil proving the validity of proposed contributions. The classification accuracy of standard color palette testing was over 90% and the accuracy of coconut oil adulteration was over 95%. while the merged mode was able to provide the best accuracy of 99% for the turmeric adulteration. A linear functional mapping was done for coconut oil adulteration with an R2 value of 0.9558.