Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The Tribunal applied a broad reading of "person aggrieved" under Section 61 IBC and held that both a shareholder-creditor and a decree-holder with garnishee orders had locus to challenge admission of the Section 7 application. It further found that the alleged loan transaction showed same-day fund transfers, round-tripping and other indicators of a sham or collusive arrangement, so the real nature of the transaction had to be examined rather than treating balance-sheet entries or MoUs as conclusive. On that material, it held that no genuine financial debt with disbursal for time value of money was established. The appeals were allowed and the Section 7 admission was set aside.
The Tribunal applied a broad reading of "person aggrieved" under Section 61 IBC and held that both a shareholder-creditor and a decree-holder with garnishee orders had locus to challenge admission of the Section 7 application. It further found that the alleged loan transaction showed same-day fund transfers, round-tripping and other indicators of a sham or collusive arrangement, so the real nature of the transaction had to be examined rather than treating balance-sheet entries or MoUs as conclusive. On that material, it held that no genuine financial debt with disbursal for time value of money was established. The appeals were allowed and the Section 7 admission was set aside.
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