Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Insolvency and BankruptcyApril 22, 2024Case LawsAT
Bench Reconstitution and Order Pronouncement - Whether an order reserved by a bench could be pronounced by a reconstituted bench without considering a subsequent application that called for a re-hearing based on new developments. - According to Tribunal directives, a judgment reserved should ideally be pronounced by the same bench unless re-hearing is warranted by substantial subsequent developments. Ultimately, the Appellate Tribunal set aside the order pronounced by the reconstituted bench and remanded the case back to the regular bench for a fresh hearing. It emphasized that the judicial process must consider all relevant developments to ensure fair adjudication.
Bench Reconstitution and Order Pronouncement - Whether an order reserved by a bench could be pronounced by a reconstituted bench without considering a subsequent application that called for a re-hearing based on new developments. - According to Tribunal directives, a judgment reserved should ideally be pronounced by the same bench unless re-hearing is warranted by substantial subsequent developments. Ultimately, the Appellate Tribunal set aside the order pronounced by the reconstituted bench and remanded the case back to the regular bench for a fresh hearing. It emphasized that the judicial process must consider all relevant developments to ensure fair adjudication.
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