On National Technology Day, Amrit Mehta, Corporate Partner at Majmudar & Partners, addresses certain key legal issues for tech start-ups in India.
Hyderabad Tribunal rules that receipt of shares in a scheme of amalgamation is taxable
Download .pdf In a recent ruling, the Hyderabad Income Tax Appellate Tribunal (the “Tribunal”) has, in the Vertex Projects case, held that if shares are received in a scheme of amalgamation by an amalgamated company being less than the fair market value (“FMV”), then...