Home Highlights February 2012 Year 2012 This

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1. 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...

2. Scheme of amalgamation /arrangement sanctioned by the High Court - transfer from A to B would definitely a “transfer” to attract the provisions of Indian Stamp Act, 1899 - HC

3. Liability of Stamp Duty - scheme of amalgamation - The words “whichever is higher” used in those two sub-clauses cannot be read to mean that, the highest stamp duty of...

4. Refund of stamp duty - Stamp papers purchased for registration of immovable property but the same could not be executed - The denial of refund of the stamp duty...

5. Computation of stamp duty and valuation does not make Scheme of Amalgamation alone chargeable to stamp duty - Basically, a scheme/compromise/arrangement between the two...

6. Requirement to deposit Stamp Duty and Registration Fee - conversion of the petitioner from ‘Partnership Firm’ to ‘Limited Liability Partnership’ - Once there is no...

7. Levy of stamp duty - Amalgamation of the company - premises owned/possessed by company - whether the petitioner company, pursuant to order of amalgamation passed by...

8. Lease Agreement - Transfer of Property - Appellant argued that the clause in the lease agreement only applies to voluntary transfers, not to mergers or amalgamations -...

9. Long term capital loss on sale of equity shares - Approved Amalgamation Scheme - This is a classic case where the Ld.AO had denied the benefit which is statutorily...

10. 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...

11. Clause (b) of Sub­section 1 of Section 7 of Bombay Stamp Act, 1958 is intended to ensure that no one evades the stamp duty payable on an instrument under the said Act by...

12. Scheme of Demerger - application for recalling - transfer of NLD/ILD licences - change in the eligibility criteria brought about after the sanction of the Scheme -...

13. Revision u/s 263 - error noted by the CIT that sale of properties by the assessee during the year was not examined by the AO vis-à-vis its stamp duty value for the...

14. Attachment orders - The transfer of immovable property can only be, by way of a sale deed. In the absence of a deed of conveyance, duly stamped and registered, no right,...

15. Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...