The Delhi High Court has inter alia held in the case of Delhi Towers Ltd. V. G.N.C.T. of Delhi [2010] 159 Comp Cas 129 (Del) that an order passed by the Court in terms of the provisions of Section 391 read with Section 394 of the Companies Act 1956 approving a scheme of amalgamation of companies is “conveyance” under Section 2(10) of Indian Stamp Act 1899 [ISA]. The High Court further held that such approved scheme of amalgamation would be an “instrument” under Section 2(14) of the ISA chargeable to stamp duty.
Definition of ‘Qualified institutional buyer’ and ‘Retail individual investor’ • Insurance funds set up and managed by the Department of Posts, India have been given the status of Qualified Institutional Buyers [QIBs]. Accordingly, Postal Li
A Non-Banking Financial Company (‘NBFC’) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by Government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property.
Though the High Court was dealing with a contention that the depreciation on goodwill could be a possible view and agreed with that view, the decision highlights that it may be possible to claim depreciation on goodwill where the facts demonstrate t
By considering the potential loss on the long standing receivables as a genuine adjustment in the course of assessment, the Tribunal has reinforced the principles that the concept of TP cannot be that of an exact science and that constant application
As you are aware, the Apex Court of the country has time & again expressed its anguish & annoyance over the delayed filing of SLPs as also appeals in the High Courts. In some cases, such delay is inordinate. The inordinate delay is more pronounced in
Bollywood actresses Katrina Kaif and Priyanka will face more troubles as the IT department officials all set to raid their bank lockers. Sources reported that officials will continue investigation on tax recordes of these actresses. Earlier on Monday
Stock transfers to a branch or consignee have been the norms of trade in both pre and post VAT regime. Further, Stock Transfer can be both inter-state and intra-state. · Various businesses contemplate options of selling the goods to another
Online payment service PayPal on Friday announced changes in its payment to Indian transactions, following the guidelines issued by the Reserve Bank of India on requirements for governing the processing and settlement of export-related receipts facil
Next time you wish to cash in your fixed deposits, be ready to pay a penalty of as much as one per cent of the investment if money is withdrawn before completion of the maturity period. In a bid to discourage premature withdrawal of money from fixed deposit accounts, banks have decided to impose a penalty on such transactions to minimise any impact on their liquidity position at a time when rising interest rates are pushing up the cost of funds for them.
