Slump sale is a concept that plays a critical role in restructuring and consolidation of businesses. Under Income-tax Act a slump sale involves transfer of one or more undertakings as a going concern, where the consideration for transfer is in form of a lump sum, without values being assigned to individual assets and liabilities.
SC that ignoring the law laid down by the Constitution Bench of this Court in Bhagat Ram and taking a view totally contrary to the same itself would amount to a material error, manifest on the face of the order. Ignoring the judgment of the Constitution Bench, in our view, would undermine its soundness.
Reopening of assessment beyond four-year limitation period invalid if AO fails to establish failure on the part of Assessee to fully and truly disclose all material facts necessary for assessment.
Read about the ITAT Mumbai’s ruling in AVTIL Enterprises Ltd Vs PCIT, where the invocation of section 263 was challenged for the AY 2017-18.
Explore the detailed ITAT Mumbai order on Trustar Diamonds appeal against ACIT for A.Y. 2012-13, addressing alleged bogus purchases in the diamond industry.
Read the full text of the ITAT Mumbai order in the case of Krimesh Ramesh Divecha Vs DCIT for A.Y. 2015-16. Understand the assessment details and implications.
Supreme Court allows delay condonation for DDA in public interest while upholding acquisition under 1894 Act in various cases. Analysis of the landmark judgment.
Securities and Exchange Board of India (SEBI) has amended its regulations governing Real Estate Investment Trusts (REITs) with the SEBI (Real Estate Investment Trusts) (Second Amendment) Regulations, 2024. Effective from the date of publication, these amendments introduce significant changes. They define “employee unit option scheme,” specify what constitutes “liquid assets,” and outline conditions under which […]
Learn about the latest GSTN update: Increased document upload sizes for Principal Place of Business and Additional Places of Business. Details and implications here.
Explore SEBI’s latest Master Circular on surveillance of securities markets, covering trading rules, insider trading regulations, and more. Read now!
