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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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The NCLT has jurisdiction to modify the scheme of amalgamation u/ss 230-232 read with Section 234 of the Companies Act, 2013. The amendment can be done at any stage. The NCLT Mumbai, while seized of a First Motion Petition, passed directions for changing the valuation and swap ratio. The proposed modification does not require further adherence to regulations for inbound merger or additional approval from the Reserve Bank of India as per FEMA Notification No. FEMA.389/2018-RB. If the impugned order is allowed, the scheme will have to be remodified, resulting in lengthy compliances undertaken for the third time. Therefore, the impugned order is liable to be set aside, and the appeal with the prayers stands allowed.
The NCLT has jurisdiction to modify the scheme of amalgamation u/ss 230-232 read with Section 234 of the Companies Act, 2013. The amendment can be done at any stage. The NCLT Mumbai, while seized of a First Motion Petition, passed directions for changing the valuation and swap ratio. The proposed modification does not require further adherence to regulations for inbound merger or additional approval from the Reserve Bank of India as per FEMA Notification No. FEMA.389/2018-RB. If the impugned order is allowed, the scheme will have to be remodified, resulting in lengthy compliances undertaken for the third time. Therefore, the impugned order is liable to be set aside, and the appeal with the prayers stands allowed.
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