Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Insolvency and BankruptcyApril 15, 2024Case LawsTri
Scope of the Report of IRP - IRP was appointed on application under Section 94(1) - After appointing an Interim Resolution Professional (IRP) and receiving a report recommending acceptance of the petition, various applications were filed by the Financial Creditor challenging the application's legitimacy. The Debtor contested these objections, asserting the validity of the IRP's report. The Tribunal scrutinized the facts and found potential bias in the IRP's conclusions, ultimately concluding that the application seemed to be a strategic move by the Debtor to benefit from the moratorium and delay recovery proceedings. As a result, the Tribunal rejected the application and accompanying report, along with dismissing other related applications.
Scope of the Report of IRP - IRP was appointed on application under Section 94(1) - After appointing an Interim Resolution Professional (IRP) and receiving a report recommending acceptance of the petition, various applications were filed by the Financial Creditor challenging the application's legitimacy. The Debtor contested these objections, asserting the validity of the IRP's report. The Tribunal scrutinized the facts and found potential bias in the IRP's conclusions, ultimately concluding that the application seemed to be a strategic move by the Debtor to benefit from the moratorium and delay recovery proceedings. As a result, the Tribunal rejected the application and accompanying report, along with dismissing other related applications.
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