Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
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