Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
A composite scheme of amalgamation and demerger, once approved by shareholders and creditors, could not be narrowed by directing a separate demerger application or by altering the scheme's material terms. The NCLAT held that the scheme identified the amalgamated company, resulting company and demerged undertaking with sufficient specificity, and that demerger was an integral consequence of the sanctioned composite scheme under Sections 230 to 232. It also corrected factual errors in the sanction order concerning the effective date, the identity of the resulting company, and an unnecessary rider tied to an unadmitted petition. The order was set aside to the extent inconsistent with the approved scheme, while statutory dues, stamp duty, taxes and compliance obligations remained fully preserved.
A composite scheme of amalgamation and demerger, once approved by shareholders and creditors, could not be narrowed by directing a separate demerger application or by altering the scheme's material terms. The NCLAT held that the scheme identified the amalgamated company, resulting company and demerged undertaking with sufficient specificity, and that demerger was an integral consequence of the sanctioned composite scheme under Sections 230 to 232. It also corrected factual errors in the sanction order concerning the effective date, the identity of the resulting company, and an unnecessary rider tied to an unadmitted petition. The order was set aside to the extent inconsistent with the approved scheme, while statutory dues, stamp duty, taxes and compliance obligations remained fully preserved.
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