Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
HC dismissed petition challenging implementation of CLB's exit formula for foreign investors in joint venture. Court held that attempts to recharacterize share capital reduction as share buyback were improper. CLB's order explicitly directed payment to foreign investors as consideration for capital reduction, not share purchase. Sale of VML property to investor's nominee was valid, having received RBI approval and surviving legal scrutiny. Court found petitioner's strategy aimed at avoiding compliance with CLB directives while manipulating regulatory processes through RBI and PMO channels rather than seeking proper judicial clarification. Share valuation proposed by petitioner at less than 1% of required payment amount demonstrated bad faith.
HC dismissed petition challenging implementation of CLB's exit formula for foreign investors in joint venture. Court held that attempts to recharacterize share capital reduction as share buyback were improper. CLB's order explicitly directed payment to foreign investors as consideration for capital reduction, not share purchase. Sale of VML property to investor's nominee was valid, having received RBI approval and surviving legal scrutiny. Court found petitioner's strategy aimed at avoiding compliance with CLB directives while manipulating regulatory processes through RBI and PMO channels rather than seeking proper judicial clarification. Share valuation proposed by petitioner at less than 1% of required payment amount demonstrated bad faith.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
