SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Insolvency and BankruptcyMarch 30, 2024Case LawsAT
Admission of section 9 application - Operational Creditors - debt payable or not - NCLAT noted that the existence of the operational debt was established, and the Appellant failed to refute the observations regarding the Reply Notice. - Regarding the back-to-back payment arrangement, the Tribunal determined that the contract terms did not support the Appellant's claim. Payments were to be made based on running accounts, not solely dependent on funds received from a third party. - The Tribunal concluded that there was no evidence of a prior dispute raised by the Appellant before the demand notice. Additionally, the invocation of the arbitration clause was not pursued by the Appellant, raising questions about bonafide intentions.
Admission of section 9 application - Operational Creditors - debt payable or not - NCLAT noted that the existence of the operational debt was established, and the Appellant failed to refute the observations regarding the Reply Notice. - Regarding the back-to-back payment arrangement, the Tribunal determined that the contract terms did not support the Appellant's claim. Payments were to be made based on running accounts, not solely dependent on funds received from a third party. - The Tribunal concluded that there was no evidence of a prior dispute raised by the Appellant before the demand notice. Additionally, the invocation of the arbitration clause was not pursued by the Appellant, raising questions about bonafide intentions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
