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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
