In this edition, we have come up with an article on the recently notified provision as to applicability of dematerialization of securities to private limited companies, other than a Small Company. Till now Private Limited Companies were outside the ambit of dematerialization, and if required they on a voluntary basis could get their shares dematerialized. Whereas with amendment to the Companies Prospectus and Allotment Rules, dematerialization of securities is made applilcable to a private limited companies, other than a Small Company. The provisions relating to the amendment, and the process involved and the Point of view for the amendment, forms part of the discussion in the Article.
The next article is on the determination of time limit for passing the assessment order when the case has been referred to transfer pricing officer. When two different sections i.e., section 153 and section 144C deals with the time limit for completion of assessment, there is a room for ambiguity. In this article, interplay between section 153 and section 144C has been discussed.
Lastly, we have also collated certain important judgments under Direct tax and provided our comments wherever necessary.
