or it is customary for the BTA to be structured as a “sales agreement.” In such cases, the agreement provides a general framework under which the company is transferred to the reference date. BTA as it is not possible to consider a transfer and require the execution of a “promotional act” on or before the completion date of the transfer. However, there are cases where the agreement contains recitals concerning the payment of the consideration that postpones the holding of the property at the same time as the appeasement of ownership of those assets. In such cases, the BTA takes the color “promotion” and stamp duty is collected accordingly. Since the transfer under the agreement is the sale of a business as a whole, it cannot be explicitly equated with the sale of personal or real estate. The Indian Stamp Act and the State Stamp Act do not contain specific provisions for the collection of taxes on a “transaction” transfer agreement as such. It is therefore imperative that each asset proposed to be transferred to the purchaser be identified individually as mobile or immobile for stamp duty purposes. The collection of stamp duty depends on the state in which the agreement is executed. This statement was inserted effective on November 15 by the M.P. Act 19 of 1989, 1989.By reason for this provision, so that a legal fiction was created. As a general rule, a sale agreement would not be subject to the payment of stamp duty due for a deed of sale, but in view of the purpose and property, it is intended to reach the legislator who has deemed it necessary to levy stamp duty on a deed of transfer of ownership. In the absence of one of the specific provisions providing for the transfer of MAT credits, a DET credit from the ceding company would not be transferred to the ceding entity. As the break and enter is a taxable transfer, amortization of acquired assets should be deducted in accordance with the 1961 ITA u/s 32.
However, a break and enter may also take effect through an arrangement under the art. 230-232 of the 2013 Companies Act, which requires the approval of the National Company Law Tribunal, the Regional Director, IT authorities, the Corporate Clerk, shareholders, creditors and the board of directors of the ceding entity.