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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Rejection of the appellant's proposal for settlement u/s 12A of the Insolvency and Bankruptcy Code (IBC) by the Committee of Creditors (CoC) and the National Company Law Appellate Tribunal's (NCLAT) decision upholding the denial of another opportunity to submit a Section 12A proposal. The key points are: 80.22% of CoC members had already voted against the appellant's settlement proposal, deeming it unfeasible and commercially unviable. Simultaneously, the Successful Resolution Applicant's (SRA) resolution plan was approved by 80.84% of the CoC. The NCLAT emphasized the primacy of the CoC's commercial wisdom, stating that the suspended management cannot insist on consideration of its proposal when the CoC has categorically decided against it. The Tribunal also noted the time-sensitive nature of IBC proceedings and the need to avoid indefinite delays, as the resolution plan had been pending for nearly four years. Consequently, the NCLAT dismissed the appeal, finding no error in the Adjudicating Authority's decision to disallow further opportunities for the appellant to submit a Section 12A proposal.
Rejection of the appellant's proposal for settlement u/s 12A of the Insolvency and Bankruptcy Code (IBC) by the Committee of Creditors (CoC) and the National Company Law Appellate Tribunal's (NCLAT) decision upholding the denial of another opportunity to submit a Section 12A proposal. The key points are: 80.22% of CoC members had already voted against the appellant's settlement proposal, deeming it unfeasible and commercially unviable. Simultaneously, the Successful Resolution Applicant's (SRA) resolution plan was approved by 80.84% of the CoC. The NCLAT emphasized the primacy of the CoC's commercial wisdom, stating that the suspended management cannot insist on consideration of its proposal when the CoC has categorically decided against it. The Tribunal also noted the time-sensitive nature of IBC proceedings and the need to avoid indefinite delays, as the resolution plan had been pending for nearly four years. Consequently, the NCLAT dismissed the appeal, finding no error in the Adjudicating Authority's decision to disallow further opportunities for the appellant to submit a Section 12A proposal.
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