Increase of general reserve due to Composite Scheme of ...

February 28, 2019

Case Laws Income Tax AT

Increase of general reserve due to Composite Scheme of Arrangement and Amalgamation of the assessee-company is neither a benefit nor a perquisite nor it is arisen out of carrying on of the business or profession by the assessee. Hence, provisions of Section 28(iv) is not applicable.

View Source

← Previous Next →

Increase of general reserve due to Composite Scheme of ...

February 28, 2019

Case Laws Income Tax AT

You may also like:

Transfer to the General Reserve on amalgamation - amounts transferred by the assessee company to the General Reserve on amalgamation is not in the nature of any benefit...

The case pertains to the taxability of a reserve arising from an amalgamation u/s 28(iv) and Section 56(2)(x)(c) of the Income Tax Act. The key points are: The appointed...

Rectification u/s 154 - Credit for Tax Deducted at Source (TDS) as deducted in respect of the Transferor Company - scheme of arrangement of amalgamation - respondent...

Creditworthiness of amalgamating companies - it is not open to the revenue to go into the amalgamation reserve as per amalgamation scheme approved by Hon’ble Calcutta...

Denial of TDS credit post amalgamation and merger proceedings - scheme of arrangement approved by NCLT - assessee contended that due to the scheme of arrangement, the...

Scheme of arrangement - the Appellant categorically mentioned that post amalgamation the net-worth of the Transferee Company will remain highly positive and the proposed...

Sanction of composite scheme of amalgamation - The appellants contested the order, arguing that it failed to consider certain clauses of the scheme, particularly...

Addition u/s 56(1) - shares received by the assessee company at the time of amalgamation - the Revenue is not precluded from ascertaining as to whether the scheme of...

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...

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...

Scheme of arrangement / amalgamation - prayer for winding up since the transfree company felt that scheme is unworkable - The Court cannot add terms to the scheme which...

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...

Disallowance u/s 35DD - fees for increase in authorized share capital - because of amalgamation proceedings, there was need to increase in authorized share capital and...

Scope of total income - Exclusion of amount transferred to special reserve - That special reserve belongs to the assessee only and is reserved for utilization in certain...

Corporate Social Responsibility - Determination of net worth - Company fall within the purview of section 135 of Companies Act or not - Exclusion of reserves created...

Quick Updates: