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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The NCLAT, an Appellate Tribunal, addressed the issue of maintainability of a section 9 application due to non-fulfillment of the prescribed threshold of Rs.1 crore and the existence of a disputed interest claim. The Corporate Debtor disputed the interest claim, leading to the conclusion that the interest amount could not be clubbed with the principal amount as per Section 4 of the IBC. The Adjudicating Authority correctly dismissed the application based on previous tribunal judgments. The appellant cited a judgment regarding interest on delayed payments but failed to establish that the interest claim was undisputed. As the claim for interest was contested, CIRP initiation was deemed inappropriate. The Adjudicating Authority's rejection of the Section 9 application was upheld, and the appeal was dismissed.
The NCLAT, an Appellate Tribunal, addressed the issue of maintainability of a section 9 application due to non-fulfillment of the prescribed threshold of Rs.1 crore and the existence of a disputed interest claim. The Corporate Debtor disputed the interest claim, leading to the conclusion that the interest amount could not be clubbed with the principal amount as per Section 4 of the IBC. The Adjudicating Authority correctly dismissed the application based on previous tribunal judgments. The appellant cited a judgment regarding interest on delayed payments but failed to establish that the interest claim was undisputed. As the claim for interest was contested, CIRP initiation was deemed inappropriate. The Adjudicating Authority's rejection of the Section 9 application was upheld, and the appeal was dismissed.
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