Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
After amendment to Explanation 1(c), eligibility as a venture capital undertaking must be determined strictly with reference to the SEBI Venture Capital Fund Regulations, 1996; on that regulatory and factual matrix the entity in question meets the regulatory description and is not within the negative list, so statutory eligibility is satisfied. Denial of exemption solely because commercial hospital operations had not commenced was rejected as inconsistent with the legislative aim to promote capital in sectors with inherent gestation. The income from the fund's qualifying investments therefore qualified for the statutory tax exemption.
After amendment to Explanation 1(c), eligibility as a venture capital undertaking must be determined strictly with reference to the SEBI Venture Capital Fund Regulations, 1996; on that regulatory and factual matrix the entity in question meets the regulatory description and is not within the negative list, so statutory eligibility is satisfied. Denial of exemption solely because commercial hospital operations had not commenced was rejected as inconsistent with the legislative aim to promote capital in sectors with inherent gestation. The income from the fund's qualifying investments therefore qualified for the statutory tax exemption.
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