ITAT Dismisses Appeal for Verbose and Irrelevant Grounds

Goldmine Commodities Pvt. Ltd. Vs PCIT-1 (ITAT Ahmedabad) Verbose Grounds containing Latin maxims, Irrelevant Allegations & 35 Respondents – Grounds of appeal must be concise, specific & without narrative- ITAT Ahmedabad declares appeal defective Assessee filed its return of income declaring total income of Rs 3,26,60,820. During assessment proceedings, AO noted that Assessee had issued 6,00,000 equity shares of Rs. 10 each at a premium of Rs. 180 per share. AO made addition of Rs. 6,58,62,000/- on account of share capital/share premium u/s 56(2)(viib) completing the assessment u/s 1...