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 court held that it can only set aside an arbitral award on the ground of patent illegality appearing on its face that shocks the judicial conscience, going to the root of the matter. Mere erroneous application of law or reappreciation of evidence is impermissible. While the 2015 amendment expanded the scope of violating public policy, the court cannot interfere with the award merely because another reasonable conclusion is possible from the merits. Finding the arbitrator's award correct and in accordance with law, the petition was dismissed.
The court held that it can only set aside an arbitral award on the ground of patent illegality appearing on its face that shocks the judicial conscience, going to the root of the matter. Mere erroneous application of law or reappreciation of evidence is impermissible. While the 2015 amendment expanded the scope of violating public policy, the court cannot interfere with the award merely because another reasonable conclusion is possible from the merits. Finding the arbitrator's award correct and in accordance with law, the petition was dismissed.
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