Home Highlights July 2011 Year 2011 This

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1. Remuneration payable by companies having no profits or inadequate profits – No approval required from CG for a subsidiary of a listed company in certain cases

2. “Vanishing companies” can only be listed companies; so far 161 “vanishing companies” have been traced

3. MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of...

4. Validity of reopening of assessment - if only the AO who applied for approval under Section 151 of the Act had only read the approval form, he would have made the...

5. Deduction u/s 10B - ordinarily, what profit the assessee might have expected to arise - AO had not brought on record any material to demonstrate that the assessee...

6. Adjustment in book profit u/s 115JB - assessee make adjustment in sale and reduced the profit - Provisions relating to adjustments by way of increase and decrease to the...

7. Receiving foreign exchange in lieu of issuance of equity shares/share warrants - whether no approval has been granted by FIPB? - When FIPB, the authority, who is vested...

8. Dishonor of Cheque - insufficiency of funds - existence of company after merger - When under a judicial order, merger of the Companies has taken place, the earlier...

9. Approval u/s 80G(5)(vi) - the company has been formed to carry out the corporate social responsibility of the other company - there is no averment or allegation that the...

10. Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.

11. Monitoring of foreign investment limits in listed Indian companies

12. Stock Transfer - merger and amalgamation done under Section 391 and 394 of the Indian Companies Act - In the present case the predecessor Company/transferor Company have...

13. Matters to be stated in prospectus - omission of the long list of details required - lined with information and reports required under SEBI - Section 26(1) of the...

14. Assessment in search cases - Approval of JCIT u/s 153D - Period of limitation - JCIT has mentioned at the bottom of the approval that draft assessment order has been...

15. Facilitating certain strategic disinvestment - Definition of "strategic Investment" has been amended to include sale of sharholding by CG/SG/PSU in a Public company or a...