Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
The National Company Law Appellate Tribunal, New Delhi, addressed the modification of a Demerger Scheme's terms by changing the Appointed Date to the date of the Impugned Order's pronouncement. The Tribunal held that if statutory provisions are complied with and there is no violation of law or public policy, the NCLT lacks jurisdiction to question the commercial wisdom of those approving the scheme. Altering the Appointed Date could have significant financial implications, and the Tribunal's role is supervisory if all sanctioning parameters are met. The reliance on a previous case was deemed incorrect as the Appointed Date should align with the scheme's provisions. The appeal was allowed, confirming the Appointed Date as per the scheme and not the date of the NCLT's pronouncement.
The National Company Law Appellate Tribunal, New Delhi, addressed the modification of a Demerger Scheme's terms by changing the Appointed Date to the date of the Impugned Order's pronouncement. The Tribunal held that if statutory provisions are complied with and there is no violation of law or public policy, the NCLT lacks jurisdiction to question the commercial wisdom of those approving the scheme. Altering the Appointed Date could have significant financial implications, and the Tribunal's role is supervisory if all sanctioning parameters are met. The reliance on a previous case was deemed incorrect as the Appointed Date should align with the scheme's provisions. The appeal was allowed, confirming the Appointed Date as per the scheme and not the date of the NCLT's pronouncement.
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TaxTMI 
TaxTMI 
of 4894 
