Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Section 31B of the RDB Act gives secured creditors priority, through its non-obstante clause, in recovering secured debts from sale of secured assets over all other debts and Government dues, including tax dues. A purchaser of land in a bank auction conducted under a prior security interest therefore takes priority over a VAT charge subsequently recorded by revenue authorities. The earlier High Court decision concerning the same land also made continuation of that charge unsustainable. The statutory VAT charge recorded in the revenue entries was directed to be removed.
Section 31B of the RDB Act gives secured creditors priority, through its non-obstante clause, in recovering secured debts from sale of secured assets over all other debts and Government dues, including tax dues. A purchaser of land in a bank auction conducted under a prior security interest therefore takes priority over a VAT charge subsequently recorded by revenue authorities. The earlier High Court decision concerning the same land also made continuation of that charge unsustainable. The statutory VAT charge recorded in the revenue entries was directed to be removed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
