M/S LUXMI FOODGRAINS PVT. LTD.,KURALI vs. ITO, W-6(4), MOHALI
In the result, appeal of the assessee is allowed
ITA 316/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh05 Nov 2019AY 2013-14
Bench: The Tribunal Against Order Of The Ld.Cit(A)-2, Chandigarh Passed For The Asstt.Year 2013-14. 2. Grounds Of Appeal Taken By The Assessee Were Not In Consonance With Rule 8 Of The Income Tax (Appellate Tribunal) Rules, 1963 - They Are Descriptive & Argumentative In Nature. However, The Assessee Has Amended These Grounds Of Appeal & Filed Fresh Grounds Wherein It Has Taken Four Grounds. A Perusal Of These Grounds Would Reveal That Grievance Of The Assessee Revolves Around Single Issue Viz. The Ld.Cit(A)
For Appellant: Shri M.P. Diwedi, Sr.DR
Section 143(2)Section 56(2)(vii)Section 56(2)(viib)
56(2)(viib) where a company, not being a company in which the public are substantially interested, receives, in any previous year, from any person being a resident, any consideration for issue of shares that exceeds the face value of such shares, the aggregate consideration received for such shares as exceeds the fair market value of the shares
