Home Highlights May 2013 Year 2013 This

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1. Power to file Revised returns of income pursuant to the scheme of arrangement and amalgamation approved by the NCLT - scheme approved u/s 391 of the Companies Act gives...

2. Jurisdiction - rights of Adjudicating Authority to hear Objectors/ Interveners, before admission of the Application - The Scheme under Chapter III-A and the Regulations...

3. Amalgamations - Locus Standi - The creditors of the transferee Company would have no right to intervene in the petition filed by the transferor Company under Section 391...

4. Levy of stamp duty on schemes of amalgamation or restructuring - The High court found that orders of the court sanctioning amalgamation/restructuring, along with the...

5. Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - permission to file claim under the correct category under the SVLDR Scheme - condonation of delay in filing...

6. Initiation of CIRP - Requirement of issuance of notice to the creditors before admission of the application - Since the statutory Scheme does not contain any obligation...

7. Procedure for assessment - scope of e-Assessment Scheme - A link for personal hearing shall be sent to the petitioner and the petitioner shall be heard within a period...

8. Validity of order of passed by the Revisional authority - The respondent authorities acting as quasi judiciary authority by invoking the power under statute are expected...

9. Offence committed under Negotiable Instrument Act - non-payment of debts arising out of dishonour of cheques - sanction of a scheme u/s 391 of the Companies Act, 1956 -...

10. Assessment on amalgamated company – Assessment on a company which has been dissolved by amalgamation u/s 391 and 394 of the Companies Act, 1956 is invalid - AT

11. Conversion of shipping bills - conversion from Draw Back Scheme to Advance License Scheme - The Tribunal examined the provisions of Circular No. 36/2010 and concluded...

12. Seeking amendment in the bills of entry - The Assessing Authority has failed to consider the fact that Section 149 of the Act does not prescribe any time limit for...

13. Levy of GST - procurement of services or material from Govt./Govt. Authority - The applicant is covered under local authority - exempted from GST

14. Govt extends ITR filing deadline to August 5

15. Disallowance of depreciation on goodwill created in the scheme of amalgamation - The ITAT allowed the claim for depreciation on goodwill, aligning with the precedent set...