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...
Registered security interest under SARFAESI was treated as giving the secured creditor priority over State tax dues, and the State could not displace that priority by relying on a first-charge claim under MVAT. For pre-Central-law cases, a mere attachment order was insufficient; the State had to show compliance with the Maharashtra Land Revenue Code recovery procedure, including due proclamation, which was not demonstrated here. The State also had not registered its charge with CERSAI, and the amendment-based challenge to section 37 of MVAT was rejected. The attachment and encumbrance were quashed, and the sale certificate was to be registered free of encumbrance.
Registered security interest under SARFAESI was treated as giving the secured creditor priority over State tax dues, and the State could not displace that priority by relying on a first-charge claim under MVAT. For pre-Central-law cases, a mere attachment order was insufficient; the State had to show compliance with the Maharashtra Land Revenue Code recovery procedure, including due proclamation, which was not demonstrated here. The State also had not registered its charge with CERSAI, and the amendment-based challenge to section 37 of MVAT was rejected. The attachment and encumbrance were quashed, and the sale certificate was to be registered free of encumbrance.
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