Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
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Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
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