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 CD defaulted on loan repayment from January 2020, failing to pay the monthly installment due on 20th January 2020. Though partial payment was made in February 2020, the entire amount including penal interest was not paid, constituting default. The FC issued a recall notice on 06.11.2020, giving 15 days to pay the defaulted amount. The CD cannot claim the recall notice date of 21.11.2020 as the default date to bring it within Section 10A of the IBC, as the default occurred much earlier in January/February 2020, prior to the cut-off period of 25.03.2020 to 25.03.2021. Issuance of the recall notice was a procedural consequence of the pre-existing default. Section 10A is inapplicable as the default predated the cut-off period. The appeal challenging the order admitting the insolvency petition u/s 7 is dismissed.
The CD defaulted on loan repayment from January 2020, failing to pay the monthly installment due on 20th January 2020. Though partial payment was made in February 2020, the entire amount including penal interest was not paid, constituting default. The FC issued a recall notice on 06.11.2020, giving 15 days to pay the defaulted amount. The CD cannot claim the recall notice date of 21.11.2020 as the default date to bring it within Section 10A of the IBC, as the default occurred much earlier in January/February 2020, prior to the cut-off period of 25.03.2020 to 25.03.2021. Issuance of the recall notice was a procedural consequence of the pre-existing default. Section 10A is inapplicable as the default predated the cut-off period. The appeal challenging the order admitting the insolvency petition u/s 7 is dismissed.
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