Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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NCLAT dismissed the company appeal filed by the minority shareholder (holding 5.98% shares) challenging the NCLT's approach to the waiver requirement under Section 244(1)(a) for initiating proceedings under Sections 241-242 of the Companies Act, 2013. The Appellate Tribunal held that the consensual direction to obtain a valuation report, and its submission on record, did not constitute grant of a statutory waiver nor obviate the need for a specific order under Section 244(1)(a). The valuation report was treated as a facilitative, equitable measure aimed at possible amicable settlement and not as a legal precondition. NCLAT held that the NCLT remains fully competent to independently decide the waiver application, and found no legal infirmity, thereby dismissing the appeal.
NCLAT dismissed the company appeal filed by the minority shareholder (holding 5.98% shares) challenging the NCLT's approach to the waiver requirement under Section 244(1)(a) for initiating proceedings under Sections 241-242 of the Companies Act, 2013. The Appellate Tribunal held that the consensual direction to obtain a valuation report, and its submission on record, did not constitute grant of a statutory waiver nor obviate the need for a specific order under Section 244(1)(a). The valuation report was treated as a facilitative, equitable measure aimed at possible amicable settlement and not as a legal precondition. NCLAT held that the NCLT remains fully competent to independently decide the waiver application, and found no legal infirmity, thereby dismissing the appeal.
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