Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The NCLAT upheld the order of NCLAT dismissing an application for resolution as the Corporate Debtor's name was struck off by the RoC. The application under Section 9 was questioned whether it was for winding up or CIRP initiation. The Tribunal clarified that winding up involves company dissolution and asset liquidation for creditor payment, while CIRP aims at company revival. The Code is not a debt recovery mechanism but a revival tool. CIRP safeguards the Corporate Debtor's interests and aims at maximizing asset value. Section 252(3) provides appeal rights for challenging RoC orders. The Appellate Tribunal found no errors in the Adjudicating Authority's order and dismissed the appeal.
The NCLAT upheld the order of NCLAT dismissing an application for resolution as the Corporate Debtor's name was struck off by the RoC. The application under Section 9 was questioned whether it was for winding up or CIRP initiation. The Tribunal clarified that winding up involves company dissolution and asset liquidation for creditor payment, while CIRP aims at company revival. The Code is not a debt recovery mechanism but a revival tool. CIRP safeguards the Corporate Debtor's interests and aims at maximizing asset value. Section 252(3) provides appeal rights for challenging RoC orders. The Appellate Tribunal found no errors in the Adjudicating Authority's order and dismissed the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
