Amritsar Swadeshi Woolen Mills Pvt. Ltd vs Vinod Krishan Khanna & Ors on 1 April
advised all banks and financial institutions to refrain from entering into buy-back arrangements in Government and other approved securities except under certain conditions ... selling 5 crore units of UTI to the assessee, the buy-back arrangement was in respect of Rs. 1 crore units alone. He has furthermore
characterizing part of the consideration paid to the Shareholders for buy-back
of shares as dividend
7. The learned CIT has erred by concluding that ... Appellant.
8. The learned CIT has erred by holding that the buy-back undertaken by the
Appellant as not being 'genuine' when
clause 12 the borrower is under an obligation to
buy-back the plots opted by the lender to purchase, at the
sole option ... putting money into the
project they have advantageous position of buy back clause
mentioned in the agreement and the buy-back price was not
determined
Financial Creditor') refer to the exercise of a Put Option/Buy
Back for equity investment.
Company Appeal (AT) (Insolvency ... Corporate Debtor') has passed a
resolution declining to honour any buy-back or other similar arrangement.
16.8. The 'IL&FS Financial Services
being expenses incurred towards amount paid as premium
on buy back shares by the assessee. The learned Authorized Representative
for the assessee pointed out that ... pointed out that
share premium paid on buy back of shares was to be allowed as deduction in
normal computation of income and also while
brought into the purview of Sec. 46A is the
77A buy-back of shares and not any other 'purchase of own shares ... shares after 1 June 2016), by artificially
dissecting the term "buy-back" into (a) Buy-back, and (b) Purchase of own shares
income of Rs. 2,31,67,715/- being
surplus on buy back of Euro notes. The AO observed that the assessee
has issued Euro notes ... were made to
the income of the assessee towards surplus on buy back of Euro Notes
by the AO, carried the matter further in appeal
clause 12 the borrower is under an obligation to
buy-back the plots opted by the lender to purchase, at the
sole option ... putting money into the
project they have advantageous position of buy back clause
mentioned in the agreement and the buy-back price was not
determined
that in case the Appellants fail to convey their willingness to buy back the shares, it would be presumed that the Appellants had exercised ... informed IDBI vide his letter dated 31.8.1999 about their interest in buying back the said shares and also enquired about the price, that Shri Nitin