Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
The note addresses valuation and disallowance issues: an allotment letter accompanied by part payment through prescribed banking channels can constitute the agreement fixing consideration for comparing actual sale consideration with Stamp Duty Valuation, and the tax authority was directed to verify receipt dates and compare SDV as of allotment; separate disallowances under the rule limiting deduction for exempt-income-related expenditure are unsustainable where no exempt income was earned, and similar 14A additions cannot be made in computing book profit, leading to deletions of those adjustments and remittance of the 43CA factual verification to the assessing officer.
The note addresses valuation and disallowance issues: an allotment letter accompanied by part payment through prescribed banking channels can constitute the agreement fixing consideration for comparing actual sale consideration with Stamp Duty Valuation, and the tax authority was directed to verify receipt dates and compare SDV as of allotment; separate disallowances under the rule limiting deduction for exempt-income-related expenditure are unsustainable where no exempt income was earned, and similar 14A additions cannot be made in computing book profit, leading to deletions of those adjustments and remittance of the 43CA factual verification to the assessing officer.
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