Home Highlights July 2013 Year 2013 This

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1. Reduction of share capital - Even though the public shareholders/non promotor shareholders had objected to the reduction of share capital in the EGH but the majority...

2. Addition u/s 56(2)(viia) - taking fair market value of buy back of shares by assessee from its holding company a company incorporated in USA - the provisions of section...

3. Issue of securities in dematerialised form by unlisted public companies - New Rule 9A Inserted to the Companies (Prospectus and Allotment of Securities) Rules, 2014

4. Recovery of tax dues of the Company from Directors - Applicability of section 179 to public limited company - In the light of the language in which Section 179 of IT Act...

5. Supply of Services - activity of holding of shares of subsidiary company by holding company - During the proceedings, the Central and State Governments issued...

6. Addition u/s 56(2)(viia) - shares received by the assessee company on account of amalgamation, for a price lower than the Fair Market Value (F.M.V) of the shares -...

7. Valuation of the fair price per equity share of the Respondent Company - low valuation of shares in the exit offer - Section 247 or other provisions of the Companies Act...

8. Addition u/s 56(2)(viib) r.w. Rule 11UA - Deemed public company - Issue of preference shares at premium to its holding company - the assessee company qualifies as a...

9. Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

10. Deduction u/s. 35D - shares may have been allotted only to selected Qualified Institutional Buyers ("QIBs") - These regulations provide that when a company has a public...

11. Addition u/s 56(2)(viib) - Share Capital - excessive Share premium - closely held company - Rule 11UA - Assessee has failed to explain and justify issue of preference...

12. Set off of accumulated unabsorbed losses - scheme of amalagamtion conceived - As on 31.03.2013, the assessee company had only 26% of equity shares in the transferor...

13. Addition u/s 68 - addition on account of share capital - the investor companies have withdrawn money from companies where funds were invested earlier and they invested...

14. Addition u/s 56(2)(viia) - purchase of shares of closely held company at 3.5 times of Book value - the provision of section 56(2)(viia) would be attracted in the case of...

15. Long term capital asset as per Section 2(42A) - period of holding - Memorandum explaining the provision in the Finance Bill - after taking into consideration that the...