Promoters Fail to Meet BIFR Scheme Requirements, Dispute Tax Dues and Binding Obligations on Other Parties.

Promoters Fail to Meet BIFR Scheme Requirements, Dispute Tax Dues and Binding Obligations on Other Parties. https://www.taxtmi.com/highlights?id=71483 Seeking relief from Income Tax Dues - BIFR scheme - the promoters had not complied with the Scheme which they now submit is binding on all other parties. It also appears that the entire exercise of gifting the shares to the Company and the Company selling the same was with the object of ensuring that the capital gains arise in the hands of the Company so as to enable the Company to claim further exemption. - HC en-us Wed, 16 Aug 2023 16:38:18 +0530 Wed, 16 Aug 2023 16:38:18 +0530 TaxTMI RSS Generator Promoters Fail to Meet BIFR Scheme Requirements, Dispute Tax Dues and Binding Obligations on Other Parties. https://www.taxtmi.com/highlights?id=71483 Seeking relief from Income Tax Dues - BIFR scheme - the promoters had not complied with the Scheme which they now submit is binding on all other parties. It also appears that the entire exercise of gifting the shares to the Company and the Company selling the same was with the object of ensuring that the capital gains arise in the hands of the Company so as to enable the Company to claim further exemption. - HC Highlights Insolvency and Bankruptcy Wed, 16 Aug 2023 16:38:18 +0530 https://www.taxtmi.com/highlights?id=71483