Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Judicially fixed interest at 9% per annum on balance loan dues was maintained after the principal and substantial interest had been repaid and the insolvency admission was set aside. Although loan terms ordinarily bind parties, judicial relief may be moulded for the nature and circumstances of insolvency proceedings. Replacing that rate with contractual default interest of 3% per month would have converted closed corporate insolvency resolution proceedings into a recovery mechanism, contrary to the Code's objectives. Supreme Court liberty to seek modification conferred no entitlement to enhanced interest; any contractual claim may be pursued before the forum specified in the loan agreement. The modification application was dismissed.
Judicially fixed interest at 9% per annum on balance loan dues was maintained after the principal and substantial interest had been repaid and the insolvency admission was set aside. Although loan terms ordinarily bind parties, judicial relief may be moulded for the nature and circumstances of insolvency proceedings. Replacing that rate with contractual default interest of 3% per month would have converted closed corporate insolvency resolution proceedings into a recovery mechanism, contrary to the Code's objectives. Supreme Court liberty to seek modification conferred no entitlement to enhanced interest; any contractual claim may be pursued before the forum specified in the loan agreement. The modification application was dismissed.
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