Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
