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 National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section 30(2) of the Insolvency and Bankruptcy Code and Clause 1(vii) of the Clarificatory Note. The burden of paying these dues falls on the Successful Resolution Applicant as per the Resolution Plan read with the Clarificatory Note. The admitted Provident Fund dues of Rs.11.49 Crores and Gratuity dues of Rs.8.84 Crores, totaling Rs.20.33 Crores for the Shree Gopal Unit, must be paid as per the priority mentioned in Clause 1(vii). The claim for payment of salary from June to November 2020 was rejected, as the Resolution Professional is the best judge to compute the CIRP cost and pay wages during the CIRP period. The approval of the Resolution Plan was upheld, subject to the declaration that workmen and employees are entitled to full Provident Fund and Gratuity dues.
The National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section 30(2) of the Insolvency and Bankruptcy Code and Clause 1(vii) of the Clarificatory Note. The burden of paying these dues falls on the Successful Resolution Applicant as per the Resolution Plan read with the Clarificatory Note. The admitted Provident Fund dues of Rs.11.49 Crores and Gratuity dues of Rs.8.84 Crores, totaling Rs.20.33 Crores for the Shree Gopal Unit, must be paid as per the priority mentioned in Clause 1(vii). The claim for payment of salary from June to November 2020 was rejected, as the Resolution Professional is the best judge to compute the CIRP cost and pay wages during the CIRP period. The approval of the Resolution Plan was upheld, subject to the declaration that workmen and employees are entitled to full Provident Fund and Gratuity dues.
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