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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Insolvency and BankruptcyAugust 2, 2024Case LawsHC
The High Court dismissed the petition filed by the petitioner seeking removal of his removal as Liquidator due to incomplete qualifications. The petitioner's application for authorization assignment was rejected by the Insolvency Bankruptcy Board of India (IBBI) as per Regulation 12A of IBBI Regulations. The Tribunal removed the petitioner as Liquidator u/s 16 of the General Clauses Act, 1897 and Section 276 of the Companies Act, 2013. The Appellate Tribunal also dismissed the petitioner's appeal, confirming his removal as Liquidator for not having valid authorization. Sections 199 to 205 of the Insolvency and Bankruptcy Code, 2016 provide for insolvency professional agencies, and Section 206 mandates enrollment as a member of an insolvency professional agency and registration with IBBI u/s 207 to render services as an insolvency professional. The High Court found no infirmity or illegality in the orders passed by the respondents and dismissed the petition.
The High Court dismissed the petition filed by the petitioner seeking removal of his removal as Liquidator due to incomplete qualifications. The petitioner's application for authorization assignment was rejected by the Insolvency Bankruptcy Board of India (IBBI) as per Regulation 12A of IBBI Regulations. The Tribunal removed the petitioner as Liquidator u/s 16 of the General Clauses Act, 1897 and Section 276 of the Companies Act, 2013. The Appellate Tribunal also dismissed the petitioner's appeal, confirming his removal as Liquidator for not having valid authorization. Sections 199 to 205 of the Insolvency and Bankruptcy Code, 2016 provide for insolvency professional agencies, and Section 206 mandates enrollment as a member of an insolvency professional agency and registration with IBBI u/s 207 to render services as an insolvency professional. The High Court found no infirmity or illegality in the orders passed by the respondents and dismissed the petition.
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