Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
