Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Mintainability of a company petition u/s 399 of the Companies Act, 1956, focusing on the pre-conditions envisaged under sub-sections (1) and (3). It examines whether the amendments made to the Articles of Association and declarations filed before the Registrar of Companies were prejudicial to the interests of the public, the company, and the petitioner, amounting to oppression and mismanagement. The Tribunal held that the petitioners failed to satisfy the condition precedent under sub-section (3) of Section 399 by not obtaining written consent from the rest of the members before filing the petition. Additionally, the allegations of illegal transfer of shares were barred by limitation, as the annual returns were available on the MCA website, constituting public notice. Ultimately, the Tribunal concluded that none of the allegations survived the law of limitation or constituted acts of oppression and mismanagement, leading to the dismissal of the petition as misconceived.
Mintainability of a company petition u/s 399 of the Companies Act, 1956, focusing on the pre-conditions envisaged under sub-sections (1) and (3). It examines whether the amendments made to the Articles of Association and declarations filed before the Registrar of Companies were prejudicial to the interests of the public, the company, and the petitioner, amounting to oppression and mismanagement. The Tribunal held that the petitioners failed to satisfy the condition precedent under sub-section (3) of Section 399 by not obtaining written consent from the rest of the members before filing the petition. Additionally, the allegations of illegal transfer of shares were barred by limitation, as the annual returns were available on the MCA website, constituting public notice. Ultimately, the Tribunal concluded that none of the allegations survived the law of limitation or constituted acts of oppression and mismanagement, leading to the dismissal of the petition as misconceived.
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