Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Rectification of the register of members under s.59 of the Companies Act, 2013 was refused on the premise that disputed facts regarding an allegedly illegal share transfer were pending before a civil court and had to be adjudicated first. Applying s.430, which bars civil-court jurisdiction over matters the Tribunal is empowered to determine, it was held that the Tribunal retains rectificatory jurisdiction even where contested facts and disputed questions arise, and cannot defer decision awaiting a civil-court finding. The order declining rectification on lack of jurisdiction was set aside, and the matter was remanded for adjudication on merits by the Tribunal without awaiting any civil-court judgment. - NCLAT
Rectification of the register of members under s.59 of the Companies Act, 2013 was refused on the premise that disputed facts regarding an allegedly illegal share transfer were pending before a civil court and had to be adjudicated first. Applying s.430, which bars civil-court jurisdiction over matters the Tribunal is empowered to determine, it was held that the Tribunal retains rectificatory jurisdiction even where contested facts and disputed questions arise, and cannot defer decision awaiting a civil-court finding. The order declining rectification on lack of jurisdiction was set aside, and the matter was remanded for adjudication on merits by the Tribunal without awaiting any civil-court judgment. - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
