TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
Operational debt may arise from an advance paid for goods where a consortium agreement assigns supply obligations to the corporate debtor and other evidence establishes the commercial nexus; an invoice is not indispensable. Receipt of the advance, cheques issued by the corporate debtor, and a later withdrawn invoice supported characterisation as payment for supplies rather than an unsupported security deposit. A pre-existing dispute must exist before the demand notice; post-notice objections and account-reconciliation assertions do not suffice. The insolvency application was revived for admission, subject to a time-bound opportunity for the corporate debtor to prove payment.
Operational debt may arise from an advance paid for goods where a consortium agreement assigns supply obligations to the corporate debtor and other evidence establishes the commercial nexus; an invoice is not indispensable. Receipt of the advance, cheques issued by the corporate debtor, and a later withdrawn invoice supported characterisation as payment for supplies rather than an unsupported security deposit. A pre-existing dispute must exist before the demand notice; post-notice objections and account-reconciliation assertions do not suffice. The insolvency application was revived for admission, subject to a time-bound opportunity for the corporate debtor to prove payment.
Note: It is a system-generated summary and is for quick reference only.