Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
The amended petition filed by the Respondent amounted to a fresh petition under the guise of an amendment, as it involved a complete redraft of the original petition with additional grounds and reliefs. The amendments were substantial, including the addition of new reliefs, impleading a new party, and introducing additional acts of oppression. As per the Aurosagar Estates case, such substantial amendments require a formal application, granting the opposing party an opportunity to rebut the proposed changes. However, the impugned order did not adhere to the principles of natural justice by allowing the amended petition without providing the Appellant an opportunity to be heard. Consequently, the appeal was disposed of.
The amended petition filed by the Respondent amounted to a fresh petition under the guise of an amendment, as it involved a complete redraft of the original petition with additional grounds and reliefs. The amendments were substantial, including the addition of new reliefs, impleading a new party, and introducing additional acts of oppression. As per the Aurosagar Estates case, such substantial amendments require a formal application, granting the opposing party an opportunity to rebut the proposed changes. However, the impugned order did not adhere to the principles of natural justice by allowing the amended petition without providing the Appellant an opportunity to be heard. Consequently, the appeal was disposed of.
Note: It is a system-generated summary and is for quick reference only.