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 LawsSC
Initiation of CIRP - Financial creditor within the meaning of sub-section (7) of Section 5 of the IBC - The Supreme Court affirmed the NCLAT’s judgment, holding that the respondents are financial creditors as their transactions with the corporate debtor involved the disbursement of money against the consideration for the time value of money, thus falling squarely within the definition of financial debt under the IBC. - The decision is pivotal for the interpretation of financial and operational debts in insolvency proceedings. It ensures that entities cannot circumvent the framework of the IBC by merely labeling transactions as service agreements when, in essence, they are financial transactions intended to raise capital.
Initiation of CIRP - Financial creditor within the meaning of sub-section (7) of Section 5 of the IBC - The Supreme Court affirmed the NCLAT’s judgment, holding that the respondents are financial creditors as their transactions with the corporate debtor involved the disbursement of money against the consideration for the time value of money, thus falling squarely within the definition of financial debt under the IBC. - The decision is pivotal for the interpretation of financial and operational debts in insolvency proceedings. It ensures that entities cannot circumvent the framework of the IBC by merely labeling transactions as service agreements when, in essence, they are financial transactions intended to raise capital.
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