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 appeal was dismissed by the NCLAT as the Adjudicating Authority correctly dismissed the Section 9 application due to the existence of a pre-existing dispute between the parties regarding the quality of goods supplied by the Operational Creditor, prior to the issuance of the demand notice. The Respondent had filed a civil suit before the demand notice and contested the defective goods supplied, establishing a real, substantial, and bona fide dispute as per the Supreme Court's ruling in Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd. The Appellant's claim for outstanding payments was also refuted by the Respondent's bank statements and ledgers, indicating no outstanding dues. The impugned order was upheld, and the appeal was dismissed.
The appeal was dismissed by the NCLAT as the Adjudicating Authority correctly dismissed the Section 9 application due to the existence of a pre-existing dispute between the parties regarding the quality of goods supplied by the Operational Creditor, prior to the issuance of the demand notice. The Respondent had filed a civil suit before the demand notice and contested the defective goods supplied, establishing a real, substantial, and bona fide dispute as per the Supreme Court's ruling in Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd. The Appellant's claim for outstanding payments was also refuted by the Respondent's bank statements and ledgers, indicating no outstanding dues. The impugned order was upheld, and the appeal was dismissed.
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