Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Regulation 35 of the Liquidation Process Regulations is amended to require that valuation in liquidation follow ''such valuation standards as notified by the Board through circular'' in place of the Companies (Registered Valuers and Valuation) Rules, 2017; additionally, a new sub-regulation mandates that a registered valuer prepare the valuation report and retain supporting documentation in the format notified by the Board through circular. These amendments take effect on publication in the Official Gazette and impose Board-notified standards and a prescribed report/record format on valuers engaged in liquidation.
Regulation 35 of the Liquidation Process Regulations is amended to require that valuation in liquidation follow ''such valuation standards as notified by the Board through circular'' in place of the Companies (Registered Valuers and Valuation) Rules, 2017; additionally, a new sub-regulation mandates that a registered valuer prepare the valuation report and retain supporting documentation in the format notified by the Board through circular. These amendments take effect on publication in the Official Gazette and impose Board-notified standards and a prescribed report/record format on valuers engaged in liquidation.
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