Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Tax collection at source on purchases removes duplicate withholding obligation, while trade-creditor evidence requires verification before unexplained...
Transfer-pricing comparability requires material turnover effects; adjustments must cover only associated-enterprise transactions and exclude abnormal...
Corporate capacity under the memorandum of association did not extend to investment of preferential-issue proceeds in virtual digital assets merely because the activity had been added to the ancillary objects clause. Schedule I distinguishes a company's stated objects from matters necessary for furtherance of those objects; the first amendment addressed only the latter, while a later amendment added virtual digital asset business to the main objects clause. Until that main-objects amendment, fund raising and investment for that business were ultra vires. The listing application therefore could not be considered on the first amendment alone, and its return was upheld.
Corporate capacity under the memorandum of association did not extend to investment of preferential-issue proceeds in virtual digital assets merely because the activity had been added to the ancillary objects clause. Schedule I distinguishes a company's stated objects from matters necessary for furtherance of those objects; the first amendment addressed only the latter, while a later amendment added virtual digital asset business to the main objects clause. Until that main-objects amendment, fund raising and investment for that business were ultra vires. The listing application therefore could not be considered on the first amendment alone, and its return was upheld.
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