Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
A substituted petitioner could not sustain oppression and mismanagement claims where it had participated in, consented to, and benefited from the impugned allotment and related transactions, and had not amended the withdrawn original pleadings. The Tribunal held that silence in the meetings and absence of recorded dissent operated as assent, creating estoppel against later challenge. It further held that the share issue could not be invalidated on the basis of issue at par, absence of valuation, or connection of allottees with management under the Companies Act, 1956. Alleged contravention of Section 77 also failed for want of proof that company funds were used for purchase of its own shares. Securities law violations were held outside the scope of Sections 397-398 proceedings.
A substituted petitioner could not sustain oppression and mismanagement claims where it had participated in, consented to, and benefited from the impugned allotment and related transactions, and had not amended the withdrawn original pleadings. The Tribunal held that silence in the meetings and absence of recorded dissent operated as assent, creating estoppel against later challenge. It further held that the share issue could not be invalidated on the basis of issue at par, absence of valuation, or connection of allottees with management under the Companies Act, 1956. Alleged contravention of Section 77 also failed for want of proof that company funds were used for purchase of its own shares. Securities law violations were held outside the scope of Sections 397-398 proceedings.
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