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 NCLAT set aside the Adjudicating Authority's order rejecting the liquidation application filed by the Resolution Professional as recommended by the Committee of Creditors (CoC). The Adjudicating Authority erred in discarding the CoC's commercial wisdom and providing its own directives overriding the CoC's recommendation. The NCLAT reiterated that the Adjudicating Authority has limited scope for judicial interference and cannot disregard the CoC's commercial wisdom unless the Resolution Plan violates the Code or regulations. The Adjudicating Authority's reasoning for rejecting the liquidation recommendation was unfounded and perverse, and the NCLAT allowed the appeal, upholding the primacy of the CoC's commercial wisdom in line with Supreme Court judgments.
The NCLAT set aside the Adjudicating Authority's order rejecting the liquidation application filed by the Resolution Professional as recommended by the Committee of Creditors (CoC). The Adjudicating Authority erred in discarding the CoC's commercial wisdom and providing its own directives overriding the CoC's recommendation. The NCLAT reiterated that the Adjudicating Authority has limited scope for judicial interference and cannot disregard the CoC's commercial wisdom unless the Resolution Plan violates the Code or regulations. The Adjudicating Authority's reasoning for rejecting the liquidation recommendation was unfounded and perverse, and the NCLAT allowed the appeal, upholding the primacy of the CoC's commercial wisdom in line with Supreme Court judgments.
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