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 observed that as per the recent Supreme Court decision in SBI General Insurance Co. Ltd. versus Krish Spinning, the arbitral tribunal is the preferred first authority to determine questions of arbitrability and jurisdiction, and courts at the referral stage should not delve into contested issues involving complex facts. The respondents raised objections but did not deny the existence of the arbitration agreement invoked by the petitioner, satisfying the requirement of prima facie existence u/s 11 of the Arbitration & Conciliation Act, 1996. Once constituted, the tribunal can consider respondents' objections before adjudicating petitioner's claims. Justice Mohit S. Shah, former Chief Justice of Bombay High Court, was appointed as the sole arbitrator, with fees and modalities to be fixed in consultation with parties. The petition was allowed.
The court observed that as per the recent Supreme Court decision in SBI General Insurance Co. Ltd. versus Krish Spinning, the arbitral tribunal is the preferred first authority to determine questions of arbitrability and jurisdiction, and courts at the referral stage should not delve into contested issues involving complex facts. The respondents raised objections but did not deny the existence of the arbitration agreement invoked by the petitioner, satisfying the requirement of prima facie existence u/s 11 of the Arbitration & Conciliation Act, 1996. Once constituted, the tribunal can consider respondents' objections before adjudicating petitioner's claims. Justice Mohit S. Shah, former Chief Justice of Bombay High Court, was appointed as the sole arbitrator, with fees and modalities to be fixed in consultation with parties. The petition was allowed.
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