Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Insolvency and BankruptcyApril 25, 2024Case LawsAT
CIRP - Validity of deed of assignment of lease - Authority of RP to Issue Inspection Notice - The Tribunal found that there was a significant dispute regarding the assignment of the lease to the corporate debtor. The absence of written intimation to the appellant about the assignment was a critical point, leading to the conclusion that the appellant was not adequately informed and that the alleged assignment was therefore disputed. - The Appellate Tribunal noted that while the RP has broad powers to manage and preserve the assets of the corporate debtor, these powers do not extend to properties over which the debtor has no legitimate claim or possession. Since the lease had expired and there was no valid assignment, the property did not constitute a part of the corporate debtor’s estate. - The NCLAT set aside the lower court’s decision, directing the RP to withdraw the notice for inspection and cease any dealings with the property.
CIRP - Validity of deed of assignment of lease - Authority of RP to Issue Inspection Notice - The Tribunal found that there was a significant dispute regarding the assignment of the lease to the corporate debtor. The absence of written intimation to the appellant about the assignment was a critical point, leading to the conclusion that the appellant was not adequately informed and that the alleged assignment was therefore disputed. - The Appellate Tribunal noted that while the RP has broad powers to manage and preserve the assets of the corporate debtor, these powers do not extend to properties over which the debtor has no legitimate claim or possession. Since the lease had expired and there was no valid assignment, the property did not constitute a part of the corporate debtor’s estate. - The NCLAT set aside the lower court’s decision, directing the RP to withdraw the notice for inspection and cease any dealings with the property.
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