Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Stamp duty on an order approving a scheme of amalgamation must be determined by treating that order as the instrument of levy. Reliance on a share valuation predating the order is not justified solely because the amalgamation order does not specify valuation. However, where neither side adequately establishes the relevant value at the time of scheme submission or order, strict construction of fiscal law requires fresh adjudication based on relevant valuation material and the taxpayer's written response. The stamp-duty demand was set aside, with the matter remanded for fresh adjudication after personal hearing; the interim deposit was to continue pending that determination.
Stamp duty on an order approving a scheme of amalgamation must be determined by treating that order as the instrument of levy. Reliance on a share valuation predating the order is not justified solely because the amalgamation order does not specify valuation. However, where neither side adequately establishes the relevant value at the time of scheme submission or order, strict construction of fiscal law requires fresh adjudication based on relevant valuation material and the taxpayer's written response. The stamp-duty demand was set aside, with the matter remanded for fresh adjudication after personal hearing; the interim deposit was to continue pending that determination.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
