Bharat Nidhi Limited („BNL‟ in short) is proceeding to
undertake buyback of shares at a grossly understated valuation in breach
of the minimum public share ... also
the grievance of the petitioners that the process of buyback is being
undertaken when investigation in respect of the promoters of respondent
vide letter dated 07.02.2012 Annexure C-1, the opposite parties also offered buyback option @18,000/- per square yard, after two years from the date ... vide letter dated 11.08.2014 Annexure C-4, requested them to honour buyback offer or in the alternative to start paying the amount
Introduction Of The Mandatory Buyback And Recycling Of Packaging Material Bill, ... on 26 July, 2019
Seventeenth Loksabha
an>
Title: Introduction of the Mandatory Buyback
case of the Revenue was that the scheme adopted to
buyback such shares was a colourable device to evade „buyback distribution
tax liability‟ under ... case of the Assessee on the other hand was
that the buyback of shares was pursuant to a scheme of arrangement under
Section
being the reduction in its liability of
buyback during the year of its Foreign Currency Convertible Bonds (FCCB)
as taxable ... under the Automatic Route. The assessee
claimed the gains earned on the buyback of the FCCBs of Rs
7,57,00,711/- as non-taxable
order of DRP hol di ng that gai n
on buyback of shares i s to be taxed under the head capi ... share as agai nst book val ue of Rs.1/-. Thi s buyback
of shares re sul ted i n l oss in the share
During the survey proceedings, it was also
noticed that on buyback of shares by the assessee
from M/s.PE Consultants Inc., the assessee ... Assessment that was completed on 31.01.2017.As far as “Buyback of
Shares” are concerned, the transaction was subject to detailed scrutiny
during
entering into an
agreement with the applicant and also promised that a buyback option
would be given to him in the event they failed ... respondents and as per the buyback option, the respondents agreed to
2
repay him Rs.3,12,00,000/-. Alleging that the respondents failed
gave a scheme through that Ordinance for grand-fathering of all the buyback provisions which companies had made. What it really meant was, we intended ... provide relief for all those companies which announced a buyback before the presentation of the July 4th Budget. It was provided that buyback
Assessing Officer noticed from the records
that assessee had incurred share buyback expenses of Rs.52,77,156/- on lead
management fees and other charges ... advisory services for
regulatory compliance in relation to buyback of shares by it - Assessing
26 The Supreme Industries Ltd.
ITA Nos. 4673 & 4754
