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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Notification dated 29.05.2015 issued by Central Government under MSMED Act mandates Banks/NBFCs to follow restructuring process for MSMEs without application. RBI revised Framework on 17.03.2016 for compatibility with regulatory guidelines. Banking Regulation Act empowers RBI to frame policy and give directions to banks regarding advances, which have statutory force. Banks, though secured creditors under SARFAESI Act, are bound to follow Framework before classifying MSME loan as NPA. MSMEs must also vigilantly follow process and produce documents to avail Framework benefits. High Court erred in holding Banks not obliged to adopt restructuring process on their own and Framework not mandatory. Impugned order set aside, appeal allowed.
Notification dated 29.05.2015 issued by Central Government under MSMED Act mandates Banks/NBFCs to follow restructuring process for MSMEs without application. RBI revised Framework on 17.03.2016 for compatibility with regulatory guidelines. Banking Regulation Act empowers RBI to frame policy and give directions to banks regarding advances, which have statutory force. Banks, though secured creditors under SARFAESI Act, are bound to follow Framework before classifying MSME loan as NPA. MSMEs must also vigilantly follow process and produce documents to avail Framework benefits. High Court erred in holding Banks not obliged to adopt restructuring process on their own and Framework not mandatory. Impugned order set aside, appeal allowed.
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