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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Challenge to an approved Resolution Plan where no consideration was given to payment to an Operational Creditor. The key points are: Section 30(2)(b) mandates that payment to Operational Creditors shall not be less than the amount payable in case of liquidation u/s 53. The Supreme Court in Essar Steel case held that the CoC's commercial wisdom in approving a Resolution Plan cannot be interfered with as long as Code provisions are met. The Adjudicating Authority's jurisdiction is circumscribed by Section 30(2). In the present case, notionally computing the amount payable to the Operational Creditor in liquidation results in nil, as the sole Financial Creditor itself cannot receive its full amount. The approved Resolution Plan proposes payment to the Financial Creditor and CIRP costs, complying with Section 30(2)(b). Though non-payment to Operational Creditors is harsh, courts are bound by the current law until the legislature amends it. The Appellate Tribunal dismissed the appeal, finding no error in the Adjudicating Authority's order approving the Resolution Plan.
Challenge to an approved Resolution Plan where no consideration was given to payment to an Operational Creditor. The key points are: Section 30(2)(b) mandates that payment to Operational Creditors shall not be less than the amount payable in case of liquidation u/s 53. The Supreme Court in Essar Steel case held that the CoC's commercial wisdom in approving a Resolution Plan cannot be interfered with as long as Code provisions are met. The Adjudicating Authority's jurisdiction is circumscribed by Section 30(2). In the present case, notionally computing the amount payable to the Operational Creditor in liquidation results in nil, as the sole Financial Creditor itself cannot receive its full amount. The approved Resolution Plan proposes payment to the Financial Creditor and CIRP costs, complying with Section 30(2)(b). Though non-payment to Operational Creditors is harsh, courts are bound by the current law until the legislature amends it. The Appellate Tribunal dismissed the appeal, finding no error in the Adjudicating Authority's order approving the Resolution Plan.
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