Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
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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