Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Proceedings based on a show cause notice issued to a company that had already merged and ceased to exist are without jurisdiction, because a notice to a non-existent amalgamating entity cannot validly found recovery action. The note applies the principle from Maruti Suzuki and later Bombay HC decisions, stating that where the merger and dissolution were undisputed and communicated to the department, the consequential adjudication is void ab initio. It also records that merger provisions do not authorise notice to a post-merger non-existent entity, while leaving the tax demand open for any fresh proceedings otherwise permissible.
Proceedings based on a show cause notice issued to a company that had already merged and ceased to exist are without jurisdiction, because a notice to a non-existent amalgamating entity cannot validly found recovery action. The note applies the principle from Maruti Suzuki and later Bombay HC decisions, stating that where the merger and dissolution were undisputed and communicated to the department, the consequential adjudication is void ab initio. It also records that merger provisions do not authorise notice to a post-merger non-existent entity, while leaving the tax demand open for any fresh proceedings otherwise permissible.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
