Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
Section 7 insolvency adjudication is confined to determining the existence of financial debt, default and completeness of the application. A proposed compromise scheme, settlement discussions or anticipated commercial hardship do not require deferral of admission unless the proposal has become legally binding or otherwise displaces the default. A pending counterclaim in separate recovery proceedings, without a determination favouring the corporate debtor, does not negate established debt and default. Natural justice requires a fair and reasonable opportunity to present the case, but does not entitle a participating party to unlimited adjournments after repeated opportunities. CIRP remains a resolution process rather than liquidation.
Section 7 insolvency adjudication is confined to determining the existence of financial debt, default and completeness of the application. A proposed compromise scheme, settlement discussions or anticipated commercial hardship do not require deferral of admission unless the proposal has become legally binding or otherwise displaces the default. A pending counterclaim in separate recovery proceedings, without a determination favouring the corporate debtor, does not negate established debt and default. Natural justice requires a fair and reasonable opportunity to present the case, but does not entitle a participating party to unlimited adjournments after repeated opportunities. CIRP remains a resolution process rather than liquidation.
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