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India's Central Board of Direct Taxes Valuation of Capital Gains Taxes

Monday, July 12, 2021 INTRODUCTION CBDT prescribes rules for determining the ‘full value of consideration’ in case of slump sales, for computing capital gains. The rules provide that the higher of the value determined basis a book-value formula (FMV1) or the actual consideration (FMV2) shall be considered to be the full value of consideration. Recently the Central Board of Direct Taxes (“CBDT”) released the much-awaited valuation rules for computing capital gains arising from a slump sale (“Valuation Rules”). The Valuation Rules come on the heels of an amendment made earlier this year via the Finance Act, 2021 requiring capital gains from slump sales to be computed with reference to fair market value (“FMV”) of the undertaking being transferred.

India
Central-board
Direct-taxes
Evaluation-rules
Finance-act
Income-tax-act
Excluded-assets
Income-tax-rules
இந்தியா
மைய-பலகை
நேரடி-வரி

Cash Left Behind by the Seller in the Target Belongs to the Target | Weil, Gotshal & Manges LLP

A recent Delaware Court of Chancery decision, Deluxe Entertainment Services Inc. v. DLX Acquisition Corporation, 2021 WL 1169905 (Del Ch. Mar. 29, 2021), provides a stark reminder of the need to carefully provide, in your stock purchase agreement, mechanics for the transfer by the target to the selling shareholders of any assets that remain in the target at closing that were intended to be excluded from the sale of the target and retained by the selling stockholders. In Deluxe Entertainment, the buyer was entitled to keep all cash held in target bank accounts after closing, even though cash had been excluded from the net working capital adjustment (i.e., the seller received no credit for the amount of cash left in the target’s bank accounts), and the seller could have swept the cash from the target immediately prior to closing, but failed to do so.

Delaware
United-states
Delaware-court
Holdings-inc
Entertainment-services-inc
Acquisition-corporation
Deluxe-entertainment-services
Deluxe-entertainment
Excluded-assets
Excluded-asset
டெலாவேர்

Potential Pitfalls in Waiving or Retaining Attorney-Client Privilege over Pre-Closing Communications in Asset Sales | Gray Reed

In DLO Enterprises, Inc. v. Innovative Chemical Products Group, LLC, the Delaware Court of Chancery (the “Court”) in an unpublished opinion analyzed whether the asset purchase agreement included the sale to the buyer of the target company’s and its employees’ pre-closing and post-closing communications with their attorneys. In January 2018, Innovative Chemical Products Groups LLC and ICP Construction, Inc. (together, “Buyers”) purchased substantially all of the assets of Arizona Polymer Flooring, Inc. (“Target”) from DLO Enterprises, Inc., 301 L&D, LLC, and Daniel and Leane Owen (the “Owen Sellers,” and, together with the entity sellers, the “Sellers”) via an Asset Purchase and Contribution Agreement (“APA”).

Delaware
United-states
Arizona
Gray-reed
Construction-inc
Innovative-chemical-products-group
Delaware-court
Enterprises-inc
Arizona-polymer-flooring-inc
Innovative-chemical-products-groups
Chancery-the-court
Chemical-products-group

Core One Labs Completes Sale of Non-Core Assets

Core One Labs Completes Sale of Non-Core Assets
phoenixherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phoenixherald.com Daily Mail and Mail on Sunday newspapers.

California
United-states
Nevada
Canada
Vancouver
British-columbia
Adelanto
Canadian
Joel-shacker
Holdings-inc
Development-corporation-devco
Reveur-holdings-inc

Core One Labs schließt Verkauf von nicht zum Kerngeschäft gehörenden Vermögenswerten ab

Core One Labs schließt Verkauf von nicht zum Kerngeschäft gehörenden Vermögenswerten ab
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.

California
United-states
Canada
Administration-molecules
Conferencea-us-department
Company-website
California-stock-corporation
Share-capital-of-corporation
Stock-corporation
Augenmerk-on-life-sciences
California-society

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