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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Maintainability of section 7 application - Initiation of CIRP - existence of debt and default - date of default - On 14.02.2020 the account was declared NPA - The Appellate Tribunal emphasized that the date of default, being the date of declaration of the account as NPA, was valid for initiating insolvency proceedings under Section 7. The Tribunal ruled that the default date should be considered as the date of declaration of the account as NPA, rather than the date of renewal of the working capital limit. It clarified that the renewal of the limit did not affect the occurrence of default by the Corporate Debtor in fulfilling its financial obligations.
Maintainability of section 7 application - Initiation of CIRP - existence of debt and default - date of default - On 14.02.2020 the account was declared NPA - The Appellate Tribunal emphasized that the date of default, being the date of declaration of the account as NPA, was valid for initiating insolvency proceedings under Section 7. The Tribunal ruled that the default date should be considered as the date of declaration of the account as NPA, rather than the date of renewal of the working capital limit. It clarified that the renewal of the limit did not affect the occurrence of default by the Corporate Debtor in fulfilling its financial obligations.
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