Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
The pre-packaged insolvency resolution framework is amended to require the resolution professional to appoint registered valuers within three days of appointment to determine fair value and liquidation value, unless the committee records reasons to appoint two sets of valuers. Disqualifications are specified for related parties, recent auditors, partners or directors of the resolution professional's insolvency professional entity, and their relatives. The valuation rules are also revised so that the coordinating valuer's fair value becomes the corporate debtor's fair value, or the average of two coordinating valuations where two sets are appointed. Liquidation value is similarly fixed by the aggregate of valuation estimates, or the aggregate of the averages from two sets where applicable.
The pre-packaged insolvency resolution framework is amended to require the resolution professional to appoint registered valuers within three days of appointment to determine fair value and liquidation value, unless the committee records reasons to appoint two sets of valuers. Disqualifications are specified for related parties, recent auditors, partners or directors of the resolution professional's insolvency professional entity, and their relatives. The valuation rules are also revised so that the coordinating valuer's fair value becomes the corporate debtor's fair value, or the average of two coordinating valuations where two sets are appointed. Liquidation value is similarly fixed by the aggregate of valuation estimates, or the aggregate of the averages from two sets where applicable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
