Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Section 29A(c) disqualification must be assessed on the date the resolution plan is submitted, and an earlier NPA-based default cannot be relied on once the relevant corporate debtor's CIRP has ended with approval of a resolution plan and change of management. The Supreme Court held that no dues in praesenti survived on that date, so the appellant was not ineligible under Section 29A(c); prior employment and later slump-sale acquisition were insufficient to attract the bar. It further held that Section 29A(j) is only derivative of a valid ineligibility under clauses (a) to (i), so the connected-person objection also failed. The appeals were allowed, the NCLAT orders were set aside, and the resolution plan was directed to be processed further.
Section 29A(c) disqualification must be assessed on the date the resolution plan is submitted, and an earlier NPA-based default cannot be relied on once the relevant corporate debtor's CIRP has ended with approval of a resolution plan and change of management. The Supreme Court held that no dues in praesenti survived on that date, so the appellant was not ineligible under Section 29A(c); prior employment and later slump-sale acquisition were insufficient to attract the bar. It further held that Section 29A(j) is only derivative of a valid ineligibility under clauses (a) to (i), so the connected-person objection also failed. The appeals were allowed, the NCLAT orders were set aside, and the resolution plan was directed to be processed further.
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