Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Fake AI-generated precedents vitiate adjudication, with unverified citations contaminating the decision-making process and undermining the rule of law...
InvITs may add back, in calculating net distributable cash flows at both HoldCo/SPV and Trust levels, payments for major maintenance of road projects funded by external borrowings. This exception to the general prohibition on debt-funded cash distributions requires prior unitholder approval for each relevant project, including approval for additional borrowing beyond an approved proposal. Major maintenance must be non-routine expenditure required by the concession agreement. Statutory auditor certification, specified disclosures on borrowing, debt maturity, NDCF and distribution impacts, and disclosures of funding alternatives are required. The revised framework takes effect immediately.
InvITs may add back, in calculating net distributable cash flows at both HoldCo/SPV and Trust levels, payments for major maintenance of road projects funded by external borrowings. This exception to the general prohibition on debt-funded cash distributions requires prior unitholder approval for each relevant project, including approval for additional borrowing beyond an approved proposal. Major maintenance must be non-routine expenditure required by the concession agreement. Statutory auditor certification, specified disclosures on borrowing, debt maturity, NDCF and distribution impacts, and disclosures of funding alternatives are required. The revised framework takes effect immediately.
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