Home Highlights May 2013 Year 2013 This

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1. HC allowed the reduction of the petitioner company’s share capital (Securities Premium Account) against the accumulated losses in the surplus/ (deficit) head of Reserves...

2. Assessment u/s 153A - Addition u/s 68 - Bogus share application money - nvestors are group companies - the assessee, in the instant case, has discharged the initial...

3. Disallowance of interest u/s 36(1)(iii) - advance to subsidiary companies - there is no finding by the AO that the subsidiary companies have not utilised the borrowed...

4. Reopening of assessment u/s 147 - Reasons to believe - The ITAT thoroughly examined the reasons recorded by the AO for re-opening the assessment and found that there was...

5. Validity of assessment proceedings - Assessment on Amalgamated company - Assessment on a company which has been dissolved and struck off the register of companies u/s...

6. Assessment against non existent company - name of company struck off by ROC - Assessment based on Seized Materials - The Tribunal noted that the Assessing Officer was...

7. Re-opening of assessment u/s 147 - notice beyond period of four years - change in the opinion or a later decision on the legal aspects - The High court finds no evidence...

8. Unexplained cash credit u/s 68 - Merely because the Investor Companies have shown meager income during the impugned assessment year, the same in my opinion, cannot be a...

9. The case pertains to the validity of an assessment order against a company that had already undergone amalgamation. The key points are: The assessment order was passed...

10. This case pertains to a prayer for rectification in the Register of Members concerning the transfer of shares, invoking Section 154 of the NCLT Rules. The key points...

11. Validity of Assessment u/s 144B - Amalgamated company - once assessment order is passed against non-existing company, there would be no cure, even for filing of the...

12. Assessment order passed against non-existent company - Merger of company as per the scheme of Amalgamation into other company - Since the assessee company ceased to be...

13. Reopening of assessment - It cannot by any stretch of imagination be said that the A.O. has not gone through the tax audit report while framing assessment u/s 143(3)...

14. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

15. Amendment to the power of the Registrar to reserve the name from the date of approval in case of new company and existing company - Section 4(5) of the Companies Act, 2013