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 29, 2024Case LawsAT
Initiation of CIRP - NCLAT admitted the application u/s 7 - NPA - Relevant date of default - The National Company Law Appellate Tribunal upheld the decision to initiate CIRP against the corporate debtor. The Tribunal confirmed that the declaration of the loan as an NPA on the due date for lack of payment beyond 90 days stands as the valid default date. This decision was supported by the regulatory definitions and reinforced by supreme court rulings that align NPA declarations with the default dates under the IBC. The arguments by the Appellant regarding the necessity of a cure period notice were dismissed by the Tribunal, which cited that the financial institution's actions were within legal bounds and supported by judicial precedents.
Initiation of CIRP - NCLAT admitted the application u/s 7 - NPA - Relevant date of default - The National Company Law Appellate Tribunal upheld the decision to initiate CIRP against the corporate debtor. The Tribunal confirmed that the declaration of the loan as an NPA on the due date for lack of payment beyond 90 days stands as the valid default date. This decision was supported by the regulatory definitions and reinforced by supreme court rulings that align NPA declarations with the default dates under the IBC. The arguments by the Appellant regarding the necessity of a cure period notice were dismissed by the Tribunal, which cited that the financial institution's actions were within legal bounds and supported by judicial precedents.
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