Charitable sports promotion: sponsorship receipts alone did not defeat registration where funds supported tournaments and player development activitie...
Overdue associated-enterprise receivables: debt-free status defeated notional-interest adjustment, while employee stock-option costs qualified as busi...
Retrospective assessment-limitation amendments validate final orders while contemporaneous segment data governs transfer-pricing comparability and tol...
Transfer pricing adjustments must track international transactions, while unsupported AMP adjustments and unsuitable manufacturing comparables require...
Transfer-pricing adjustments must reflect functional comparability, working-capital effects, and avoid duplicating interest on associated-enterprise r...
Contempt for breach of an undertaking requires a clear, express and unambiguous commitment that demonstrates a firm obligation to act or refrain from acting. A statement merely clarifying that a proposed acquisition would not proceed does not, without more, constitute an undertaking enforceable through contempt. Foreign money decrees of superior courts in reciprocating territories may be prima facie executable in India, with comity of nations relevant at the interlocutory stage. Where corporate transactions and changes of control indicate possible asset dissipation, interim protection and adequate security may be maintained pending execution. Questions concerning veil lifting and the liability of family-controlled entities remain for determination in execution proceedings.
Contempt for breach of an undertaking requires a clear, express and unambiguous commitment that demonstrates a firm obligation to act or refrain from acting. A statement merely clarifying that a proposed acquisition would not proceed does not, without more, constitute an undertaking enforceable through contempt. Foreign money decrees of superior courts in reciprocating territories may be prima facie executable in India, with comity of nations relevant at the interlocutory stage. Where corporate transactions and changes of control indicate possible asset dissipation, interim protection and adequate security may be maintained pending execution. Questions concerning veil lifting and the liability of family-controlled entities remain for determination in execution proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
