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2020
2019
- MCA issues a clarificatory circular putting debate on ‘appointed date’ to rest in scheme matters
- Amendment to stamp duty and registration fees in Tamil Nadu on amalgamation or reconstruction of companies
- Madras High Court decision on filing of revised return of income by an amalgamated company beyond the prescribed time limit
- National Company Law Tribunal Bengaluru Bench approves selective capital reduction scheme involving squeeze-out of minority shareholders
- Madras High Court holds that revised returns filed pursuant to an amalgamation beyond the statutory time limit will be valid only if filed after seeking condonation of delay
- MCA Circular providing clarifications on ‘appointed date’
- NCLAT sets aside NCLT ruling allowing merger of LLP with a Company
- NCLAT rejects scheme of amalgamation based on unfair valuation report and exchange ratio
- Supreme Court decision on filing of revised return of income by an amalgamated company beyond the prescribed time limit
2018
- NCLT sanctions merger scheme, rejects tax authorities’ plea of tax avoidance
- Income tax authorities invoke GAAR provisions while responding to NCLT Mumbai, resulting in rejection of scheme of amalgamation and arrangement
- Kolkata ITAT* denies exemption under section 47(vib) on a demerger, however holds transaction to be exempt from capital gains tax under general principles
- Buy-back of own shares below fair market value not taxable under section 56(2)(viia), rules Mumbai Bench of Income-tax Appellate Tribunal* (* ITA No. 532/Mum/2018)
- Mauritius Budget 2018 – Overview of key proposals relevant from an Indian standpoint
- Transfer of a capital asset to a step-down wholly-owned subsidiary not taxable under section 47(iv), rules the Kolkata Bench of the Income-tax Appellate Tribunal
- Exemption application under Regulation 11 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
2017
- The Supreme Court (SC) holds that income on account of waiver of interest liability due by amalgamating company after amalgamation, should be adjusted against the losses taken over by amalgamated company pursuant to section 72A of the Act
- Madras HC attributes part of sales consideration in a brand acquisition transaction towards Non- Compete fees, taxable as business profits
2016
- Bombay High Court decides deferred consideration dependent on a contingency does not accrue unless the contingency has occurred and is not liable to capital gains tax in year of transfer of capital asset
- Himachal Pradesh High Court treats compensation received by assessee on termination of SPA as ‘revenue’ receipt chargeable to tax
- Hyderabad ITAT rules that ‘fair market value’ to be computed as per the prescribed provisions of the Act thereby deleting the addition made by assessing officer
2015
