Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Conversion from an unlimited liability company to a limited liability company - Section 18 of the Companies Act, 2013 - Applicability of the amendments to Section 18 and Rule 37 - To be applied retrospectively for the application filed before the amendment or not - The High Court rejected the appellant's contention that it had a vested right to conversion under the unamended Act, stating that approval must align with the law as it exists at the time of granting such approval. The Court further reasoned that the amendment was curative in nature, designed to protect creditors' interests by introducing additional criteria for conversion, including the necessity for NOCs.
Conversion from an unlimited liability company to a limited liability company - Section 18 of the Companies Act, 2013 - Applicability of the amendments to Section 18 and Rule 37 - To be applied retrospectively for the application filed before the amendment or not - The High Court rejected the appellant's contention that it had a vested right to conversion under the unamended Act, stating that approval must align with the law as it exists at the time of granting such approval. The Court further reasoned that the amendment was curative in nature, designed to protect creditors' interests by introducing additional criteria for conversion, including the necessity for NOCs.
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