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...
SEBI has clarified that an SPV holding an infrastructure project does not lose its SPV status merely because the concession agreement or a similar agreement ends or is terminated, subject to specified conditions. The Investment Manager must, within one year from the later of project completion or termination, resolution of pending claims, litigations, tax assessments and related appeals, or completion of the defect liability period, either exit the SPV through sale, liquidation, winding-up or merger, or acquire a new infrastructure project in that SPV. Time taken for statutory or regulatory approvals is excluded. Until exit, detailed annual disclosures are required at InvIT and SPV level on investments, assets and liabilities, contingent liabilities, debt, exit plan and other material matters.
SEBI has clarified that an SPV holding an infrastructure project does not lose its SPV status merely because the concession agreement or a similar agreement ends or is terminated, subject to specified conditions. The Investment Manager must, within one year from the later of project completion or termination, resolution of pending claims, litigations, tax assessments and related appeals, or completion of the defect liability period, either exit the SPV through sale, liquidation, winding-up or merger, or acquire a new infrastructure project in that SPV. Time taken for statutory or regulatory approvals is excluded. Until exit, detailed annual disclosures are required at InvIT and SPV level on investments, assets and liabilities, contingent liabilities, debt, exit plan and other material matters.
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