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 provident fund dues, including contributions u/s 7A, interest u/s 7Q, and damages u/s 14 of the EPF Act, are not part of the liquidation estate assets. The EPFO authorities have the power to determine the amount due from the employer and recover damages for defaults in payment of contributions. The Supreme Court held that gratuity and pension dues shall be governed by Section 36(4) of the Code, which excludes such dues from the liquidation estate assets. Section 53(1) of the Code cannot be applied to these dues. The NCLAT also ruled that gratuity, provident fund, and pension fund dues must be paid to the workmen/employees on priority, without waiting for the distribution of liquidation assets under the waterfall mechanism of Section 53. The appeal was dismissed.
The provident fund dues, including contributions u/s 7A, interest u/s 7Q, and damages u/s 14 of the EPF Act, are not part of the liquidation estate assets. The EPFO authorities have the power to determine the amount due from the employer and recover damages for defaults in payment of contributions. The Supreme Court held that gratuity and pension dues shall be governed by Section 36(4) of the Code, which excludes such dues from the liquidation estate assets. Section 53(1) of the Code cannot be applied to these dues. The NCLAT also ruled that gratuity, provident fund, and pension fund dues must be paid to the workmen/employees on priority, without waiting for the distribution of liquidation assets under the waterfall mechanism of Section 53. The appeal was dismissed.
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