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This ruling of SC will have a far-reaching effect, which has changed perception of using Partnership Firm to evade taxes. The SC has considered revaluation of the assets of a Partnership Firm is an event deemed to transfer of assets to the partners and hence taxable in the hand of firm.
As you are aware that a claim for Negligent Entrustment arises when one party is held liable for negligently giving someone else a "Dangerous Instrumentality" with which that person causes injury to a third party.
QUESTIONStable and Efficient Limited is an industrial undertaking situated in the urban area of State Haryana of India. The company is a registered person under...
Section 11 of the EPF Act, 1952 clearly provides any sum due to the employees of the organisation towards PF, Insurance Fund are to be paid in priority to all other debts in the distribution of the property of the insolvent or the assets of the company being wound up, as the case may be.
The Turquand rule is founded in common law. It serves to protect bona fide third parties who are not aware of any internal irregularities of a company which may result in affecting the validity of a contract/transaction with the company.
Amendments made by finance acts - 2008, 2010,2011 and 2015 related to the definition of "Charitable Purpose"
Derivative suits permit a shareholder to bring an action in the name of the corporation against the parties allegedly causing harm to the corporation. If the directors, officers, or employees of the corporation are not willing to file an action, a shareholder may first petition them to proceed.
In this article, we take a look into all details you need to know about Rule 132.
As you are aware that a company incorporated under provisions of the Companies Act, 1956 or 2013 is a distinct legal entity separate from its promoters and members.
The 1991 Public Liability Law regulates mandatory liability insurance. Under the law, companies must commit to installing and handling hazardous materials that have been reported under the Environmental Protection Act, 1986. It is basically a part of tort law, which focuses on the misconduct of civil law.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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