Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
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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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