Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Insolvency and BankruptcyApril 15, 2024Case LawsTri
Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an application u/s 95 of the IBC by a Financial Creditor against a Personal Guarantor for recovery of outstanding debt. The Tribunal examined the validity of guarantees, notice of demand, limitation period, and the effect of CIRP against the Principal Borrower. It upheld the validity of guarantees, affirmed the notice of demand, and ruled the Company Petition as rejected due to being filed beyond the limitation period. The Tribunal also confirmed the constitutional validity of relevant IBC sections.
Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an application u/s 95 of the IBC by a Financial Creditor against a Personal Guarantor for recovery of outstanding debt. The Tribunal examined the validity of guarantees, notice of demand, limitation period, and the effect of CIRP against the Principal Borrower. It upheld the validity of guarantees, affirmed the notice of demand, and ruled the Company Petition as rejected due to being filed beyond the limitation period. The Tribunal also confirmed the constitutional validity of relevant IBC sections.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
