Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Validity of SCN proposing to declare the petitioners as wilful defaulters - Classification of Account as NPA - Impact of CIRP proceedings under IBC - The High Court held that NPA classification was deemed irrelevant to the determination of wilful default, and the Show-cause Notice was deemed valid. - The court ruled that the NPA classification was a separate issue from wilful default and that the petitioners' arguments regarding the classification's invalidity were not sustainable. - The court determined that the petitioners' legal rights were not infringed by the issuance of the Show-cause Notice, as they had the opportunity to respond to it. - The court found that the allegations in the Show-cause Notice provided sufficient grounds for declaring the petitioners as wilful defaulters, as per the Master Circular. - The court clarified that wilful defaulter proceedings were not subject to the moratorium imposed by Section 96 of the IBC.
Validity of SCN proposing to declare the petitioners as wilful defaulters - Classification of Account as NPA - Impact of CIRP proceedings under IBC - The High Court held that NPA classification was deemed irrelevant to the determination of wilful default, and the Show-cause Notice was deemed valid. - The court ruled that the NPA classification was a separate issue from wilful default and that the petitioners' arguments regarding the classification's invalidity were not sustainable. - The court determined that the petitioners' legal rights were not infringed by the issuance of the Show-cause Notice, as they had the opportunity to respond to it. - The court found that the allegations in the Show-cause Notice provided sufficient grounds for declaring the petitioners as wilful defaulters, as per the Master Circular. - The court clarified that wilful defaulter proceedings were not subject to the moratorium imposed by Section 96 of the IBC.
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