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Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
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Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Initiation of CIRP - period of limitation - whether the issuance of Recovery Certificate would not trigger the right to sue. - A liability in respect of a claim arising out of a Recovery Certificate would be a “financial debt” within the meaning of clause (8) of Section 5 of the IBC. Consequently, the holder of the Recovery Certificate would be a financial creditor within the meaning of clause (7) of Section 5 of the IBC. As such, the holder of such certificate would be entitled to initiate CIRP, if initiated within a period of three years from the date of issuance of the Recovery Certificate. 85 - the application under Section 7 of the IBC was within limitation and the learned NCLAT has erred in holding that it is barred by limitation. - SC
Initiation of CIRP - period of limitation - whether the issuance of Recovery Certificate would not trigger the right to sue. - A liability in respect of a claim arising out of a Recovery Certificate would be a “financial debt” within the meaning of clause (8) of Section 5 of the IBC. Consequently, the holder of the Recovery Certificate would be a financial creditor within the meaning of clause (7) of Section 5 of the IBC. As such, the holder of such certificate would be entitled to initiate CIRP, if initiated within a period of three years from the date of issuance of the Recovery Certificate. 85 - the application under Section 7 of the IBC was within limitation and the learned NCLAT has erred in holding that it is barred by limitation. - SC
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