Home Highlights July 2013 Year 2013 This

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1. Approval of the scheme of compromise/arrangement - promoter directors or some of the shareholders can move application u/s 391 of the old Act when the company is in...

2. Amalgamation - u/s 391 the C. Govt. & IT Authority do not have any powers to intervene or to be heard on any scheme which is filed seeking sanction of the Court - HC

3. 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...

4. Dishonour of Cheque - Supreme Court held that, the presumptions under the NI Act albeit rebuttable operate in favour of the complainant. Hence, it is for the accused to...

5. Admission of additional evidence - The legislative intent in enacting Section 391 is to empower the appellate court to see that justice is done and if the appellate...

6. Money Laundering - Scheduled offences - whether the Non-Bailable Warrants (NBW) issued against the petitioner are liable to be quashed? - The High Court affirmed the...

7. Validity of Scheme of arrangement between the Petitioner and its Shareholders - Proceedings under Income Tax were pending - It will not be proper to permit the...

8. 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 -...

9. Doctrine of promissory estoppel - Benefit under incentive Scheme - Scenarios of new Acts replacing the VAT Act, ensuring entitlement despite the GST regime. - The High...

10. Reopening of assessment u/s 147 against non-existing entity - scheme of the amalgamation and arrangement approved - The High Court acknowledges the petitioner's argument...

11. Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive...

12. Reopening of assessment u/s 147 - High Court cannot form any opinion in respect of such findings to be made. Only endeavour of the High Court is to ensure that, whether...

13. The Supreme Court dismisses a Special Leave Petition , without granting leave but with reasons, there is no merger, but the reasons adduced by the Supreme Court for...

14. Benefit under the Kar Vivad Samadhan Scheme, 1998, ('KVS Scheme') denied - reason for denying the benefit was stated as the non-existence of tax liability for the said...

15. Reopening of assessment - reasons for re-opening within or beyond 4 years - reasons to believe - The court specifically pointed out that the information used from the...