Commonality or Common Ownership Without Element of Deceit or Fraud not Sufficient for "Lifting Corporate Veil" & Establishing "Alter Ego": Bombay High Court Distinguishes NYK Line & NYK Theseus Corporation
The High Court of Bombay has delivered a significant ruling on the issue of “lifting the corporate veil”. The Bombay High Court has distinguished...
![Shareholders failed to prove Source of their Investments: ITAT grants Opportunity to prove Genuineness and Creditworthiness of Shareholder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Source-of-Investments-ITAT-Investments-Genuineness-of-Shareholders-Creditworthiness-of-Shareholder-taxscan.jpg "Shareholders failed to prove Source of their Investments: ITAT grants Opportunity to prove Genuineness and Creditworthiness of Shareholder [Read Order]")
![ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Proof-of-Identity-Creditworthiness-of-Shareholders-Genuineness-of-Transactions-Transactions-Taxscan-.jpg "ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]")
![Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unsecured-Loans-Banking-Shareholders-ITAT-taxscan.jpg "Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]")
![Deemed Dividend u/s 2(22)(e) not applicable on Non-Shareholders: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deemed-dividend-applicable-Non-Shareholders-ITAT-Taxscan.jpg "Deemed Dividend u/s 2(22)(e) not applicable on Non-Shareholders: ITAT [Read Order]")
![Genuineness of Transaction needs to prove to invoke Tax Exemption under Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Genuineness-transaction-Tax-Exemption-Income-Tax-ITAT-Taxscan.jpeg "Genuineness of Transaction needs to prove to invoke Tax Exemption under Income Tax: ITAT [Read Order]")
Third Party Shareholders Renouncing Rights Shares in Favour of the Assessee is Liable to Tax u/s 56(2): ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that third party shareholders renouncing rights shares in favour of the assessee are liable to tax u/s 56(2). The appellant,...
![Third Party Shareholders Renouncing Rights Shares in Favour of the Assessee is Liable to Tax u/s 56(2): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Third-Party-Shareholders-Rights-Shares-Assesse-Liable-to-Tax-ITAT-Taxscan.jpeg "Third Party Shareholders Renouncing Rights Shares in Favour of the Assessee is Liable to Tax u/s 56(2): ITAT [Read Order]")
Third Party Shareholders Renouncing Rights Shares in Favour of the Assesse is Liable to Tax u/s 56(2): ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal has held that third party shareholders renouncing rights shares in favour of the assesse are liable to tax u/s 56(2). The appellant, Sri Jigar...
![Third Party Shareholders Renouncing Rights Shares in Favour of the Assesse is Liable to Tax u/s 56(2): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Third-Party-Shareholders-Shares-Assesse-Tax-ITAT-taxscan.jpeg "Third Party Shareholders Renouncing Rights Shares in Favour of the Assesse is Liable to Tax u/s 56(2): ITAT [Read Order]")
Appointments / Re-appointments earlier rejected by Shareholders shall be done with Prior Approvals: SEBI [Read Notification]
The Securities and Exchange Board of India (SEBI) has notified that the Appointment or re-appointment of persons earlier rejected by shareholders at general meeting to be done only with prior...
![Appointments / Re-appointments earlier rejected by Shareholders shall be done with Prior Approvals: SEBI [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/01/Appointments-Re-appointments-Shareholders-SEBI-taxscan.jpg "Appointments / Re-appointments earlier rejected by Shareholders shall be done with Prior Approvals: SEBI [Read Notification]")
Requests for effecting Transfer of Securities not to be processed unless Securities held in dematerialized form with Depository: SEBI [Read Notification]
The Securities and Exchange Board of India (SEBI) has notified that the requests for effecting transfer of securities not to be processed unless securities held in dematerialised form with...
![Requests for effecting Transfer of Securities not to be processed unless Securities held in dematerialized form with Depository: SEBI [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/01/Requests-Transfer-of-securities-Securities-Dematerialised-form-Form-Depository-SEBI-Taxscan.jpg "Requests for effecting Transfer of Securities not to be processed unless Securities held in dematerialized form with Depository: SEBI [Read Notification]")
Prior Approval of Shareholders of Listed entity required for material RPTs having threshold less than Rs.1000 cr or 10% of Consolidated Annual Turnover: SEBI
The Securities and Exchange Board of India (SEBI) has decided that the prior approval of shareholders of listed entities required for material-related party transactions (RPTs) having a threshold of...
