Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
The transfer of a capital asset from NPCIL to ASHVINI, both public sector companies, under the Central Government-approved plan is notified as a transaction not regarded as a transfer for the purposes of section 47(viiaf) of the Income-tax Act, 1961, read with section 536(2) of the Income-tax Act, 2025. The notification applies to the financial year of transfer, 2025-26, corresponding to assessment year 2026-27. It gives retrospective effect from that financial year and states that no person is adversely affected by the retrospective operation.
The transfer of a capital asset from NPCIL to ASHVINI, both public sector companies, under the Central Government-approved plan is notified as a transaction not regarded as a transfer for the purposes of section 47(viiaf) of the Income-tax Act, 1961, read with section 536(2) of the Income-tax Act, 2025. The notification applies to the financial year of transfer, 2025-26, corresponding to assessment year 2026-27. It gives retrospective effect from that financial year and states that no person is adversely affected by the retrospective operation.
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