Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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HC held that the amended Article 37 remains lawful and enforceable inter se shareholders. Transfers of shares in contravention of the Articles to outsiders are void, but there was no evidence substantiating cancellation of the appellants' shareholdings or their consequent removal as directors; those directions were unsustainable. The impugned order of 5 June 2009 was modified: the transfers to appellant nos.1,2,4 and 5 are declared valid and their appointments as directors are affirmed. Following the deaths of certain original shareholders, shares may be transmitted only to legal heirs; such heirs are granted liberty to apply to the company under Article 41 to effect transmission. Questions of law were answered in the company's best interests and the application is disposed.
HC held that the amended Article 37 remains lawful and enforceable inter se shareholders. Transfers of shares in contravention of the Articles to outsiders are void, but there was no evidence substantiating cancellation of the appellants' shareholdings or their consequent removal as directors; those directions were unsustainable. The impugned order of 5 June 2009 was modified: the transfers to appellant nos.1,2,4 and 5 are declared valid and their appointments as directors are affirmed. Following the deaths of certain original shareholders, shares may be transmitted only to legal heirs; such heirs are granted liberty to apply to the company under Article 41 to effect transmission. Questions of law were answered in the company's best interests and the application is disposed.
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