GOLDMINE COMMODITIES PRIVATE LIMITED,AHMEDABAD V. THE PR. CIT-1, AHMEDABAD

ITA 1194/AHD/2024

AI Insights

The case involves Goldmine Commodities Pvt. Ltd., which appealed against the order of the Commissioner of Income-tax (Appeals)-11, Ahmedabad, confirming the addition of Rs. 6,58,62,000 on account of share capital/share premium under section 56(2)(viib) of the Income-tax Act, 1961. The assessee had issued 6,00,000 equity shares at a premium, which was scrutinized during the assessment for the year 2016-17. The Tribunal dismissed the appeal due to procedural defects and the irrelevance of the arguments presented, which included allegations of conspiracy and fraud against public servants, not typically within the Tribunal's jurisdiction.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 772243 (ITAT-AHMEDABAD)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Assessment Year: 2016-2017
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RIGNESH DAS
• Assessee Lawyers: KISHOR GOYAL
• Section: 143(3)

Judgement Text

" आयकर अपीलीय अिधकरण, अहमदाबाद Ɋायपीठ “ C”, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ C ” BENCH, AHMEDABAD सुŵी सुिचũा काɾले, Ɋाियक सद˟ एवं ŵी मकरंद वसंत महादेवकर, लेखा सद˟ क े समƗ। ] ] BEFORE Ms SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं /ITA No.1194/Ahd/2024 िनधाŊरण वषŊ /Assessment Year : 2016-17 Goldmine Commodities Pvt. Ltd., Goldmine House, 4, Niranjan-Nirakar Society, Near Shreyas Railway Crossing, Ambawadi Ahmedabad-380007. (Gujarat) बनाम / v/s. The Principal Commissioner of Income Tax-1 Ahmedabad. (Earlier know as Principal Commissioner of Income Tax-2, Ahmedabad) ̾थायी लेखा सं./PAN: AACCG1295L अपीलाथŎ/ (Appellant) Ů̝ यथŎ/ (Respondent) Assessee by : Shri Kishor Goyal, AR Revenue by : Shri Rignesh Das, CIT-DR सुनवाई की तारीख/Date of Hearing : 12/08/2025 घोषणा की तारीख /Date of Pronouncement: 27/08/2025 आदेश/O R D E R PER MAKARAND V. MAHADEOKAR, AM: ] ] This appeal by the assessee is directed against the order of the Commissioner of Income-tax (Appeals)-11, Ahmedabad [hereinafter referred to as “CIT(A)”] dated 25/04/2024, passed in Appeal No. CIT(A)/Ahd-2/10217/2018-19 for A.Y. 2016–17, arising from the assessment order passed under section 143(3) of Printed from counselvise.com ITA No.1194/Ahd/2024 Goldmine Commodities Pvt. Ltd. Vs. PCIT Assessment Year 2016-17 2 the Income-tax Act, 1961 by the ACIT, Circle 2(1)(1), Ahmedabad on 15/12/2018. Facts in Brief 2. The assessee filed its return of income on 05/10/2016 declaring total income of Rs. 3,26,60,820/-. The case was selected for scrutiny and assessment was completed u/s 143(3) on 15/12/2018. During assessment proceedings, the Assessing Officer noted that the assessee had issued 6,00,000 equity shares of Rs. 10 each at a premium of Rs. 180 per share. After considering submissions, the Assessing Officer made addition of Rs. 6,58,62,000/- on account of share capital/share premium under section 56(2)(viib) of the Act and raised a demand of Rs. 2,89,54,211/-. 3. Aggrieved, the assessee carried the matter before the CIT(A). The CIT(A) by order dated 25/04/2024 confirmed the additions. Being further aggrieved, the assessee has filed the present appeal before us. 4. On perusal of the record, it is observed that: 1. The Form No. 36 filed by the assessee names as many as 30–35 “respondents/defendants” including Union of India, CBDT, Ministry of Corporate Affairs, and various individual officers, which is not permissible under section 253 of the Act. The only proper respondent in an income-tax appeal is the jurisdictional Assessing Officer. Printed from counselvise.com ITA No.1194/Ahd/2024 Goldmine Commodities Pvt. Ltd. Vs. PCIT Assessment Year 2016-17 3 2. The Statement of Facts runs into several pages containing verbose and unintelligible narrative couched in Latin maxims and allegations of conspiracy, contempt, and fraud against public servants. These averments are wholly irrelevant for the adjudication of an appeal under section 253 of the Act. 3. The Grounds of Appeal filed are sprawling (more than 30 in number), highly argumentative, and unintelligible. They do not specifically raise any grievance against the order of the CIT(A) confirming the addition on account of share capital/share premium. 5. It is well settled that under Rule 8 of the Income-tax (Appellate Tribunal) Rules, 1963, the grounds of appeal must be concise, specific, and without narrative. The present appeal as filed is in total violation of Rule 8. 6. Further, the Tribunal’s jurisdiction under section 253 is confined to examining the correctness of orders passed by the Assessing Officer and the CIT(A) under the Income-tax Act. Issues relating to constitutional validity, conspiracy, contempt of court, defamation, or damages are far beyond the scope of Tribunal’s jurisdiction. 7. The present filing does not identify any precise ground relating to the addition/disallowance sustained by the CIT(A). In Printed from counselvise.com ITA No.1194/Ahd/2024 Goldmine Commodities Pvt. Ltd. Vs. PCIT Assessment Year 2016-17 4 absence of clear, concise grounds, the appeal becomes incapable of adjudication. 8. In view of the above, we hold that the appeal filed by the assessee is defective and not maintainable in its present form. Accordingly, the appeal is dismissed. 9. We further note that the Revenue’s appeal against the very same order of the CIT(A) has been dismissed by us on merits. Thus, apart from the assessee’s appeal being defective in form, it has also become infructuous in substance. Order pronounced in the Open Court on 27th August, 2025 at Ahmedabad. Sd/- Sd/- (SUCHITRA KAMBLE) JUDICIAL MEMBER (MAKARAND V.MAHADEOKAR) ACCOUNTANT MEMBER (True Copy) Ahmedabad, Dated 27/08/2025 Manish, Sr. PS आदेश की Ůितिलिप अŤेिषत/Copy of the Order forwarded to : 1. अपीलाथŎ / The Appellant 2. ŮȑथŎ / The Respondent. 3. संबंिधत आयकर आयुƅ / Concerned CIT 4. आयकर आयुƅ ) अपील ( / The CIT(Exemption)-Ahmedabad 5. िवभागीय Ůितिनिध , आयकर अपीलीय अिधकरण , राजोकट/DR,ITAT, Ahmedabad, 6. गाडŊ फाईल /Guard file. आदेशानुसार/ BY ORDER, सȑािपत Ůित //True Copy// सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण, ITAT, Ahmedabad Printed from counselvise.com "