Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
An appeal against the rejection of an application for amendment of a Scheme of Amalgamation, involving a minuscule change in the swap ratio of the Transferor Companies. Precedents were cited where amendments to schemes were allowed, including changes in appointed dates, swap ratios, and exclusion of companies from the merger. The proposed modification would not require additional approvals under FEMA regulations. Sustaining the impugned order would necessitate remodifying the scheme and undertaking lengthy compliances for the third time. Consequently, the Appellate Tribunal allowed the appeal and set aside the impugned order rejecting the amendment.
An appeal against the rejection of an application for amendment of a Scheme of Amalgamation, involving a minuscule change in the swap ratio of the Transferor Companies. Precedents were cited where amendments to schemes were allowed, including changes in appointed dates, swap ratios, and exclusion of companies from the merger. The proposed modification would not require additional approvals under FEMA regulations. Sustaining the impugned order would necessitate remodifying the scheme and undertaking lengthy compliances for the third time. Consequently, the Appellate Tribunal allowed the appeal and set aside the impugned order rejecting the amendment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
