Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
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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