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 principles of independence and impartiality of arbitral tribunals under the Arbitration and Conciliation Act 1996 were evaluated in relation to party autonomy. Unilateral appointment of sole arbitrator or curation of panel for other party's selection was examined. The majority held that equal treatment applies at appointment stage, prohibiting unilateral appointments or curated panels by one party. Such clauses in public-private contracts violate Article 14. Waiver u/s 12(5) is possible post-disputes. The ruling applies prospectively to three-member tribunals. A minority view permitted unilateral appointments if arbitrators meet eligibility criteria, limiting judicial intervention at appointment stage. The interplay between contractual autonomy and statutory duty to constitute independent tribunals was analyzed, with the latter being a non-derogable public policy under the Contract Act. Courts must scrutinize agreements to ensure compliance with this requirement while respecting party autonomy.
The principles of independence and impartiality of arbitral tribunals under the Arbitration and Conciliation Act 1996 were evaluated in relation to party autonomy. Unilateral appointment of sole arbitrator or curation of panel for other party's selection was examined. The majority held that equal treatment applies at appointment stage, prohibiting unilateral appointments or curated panels by one party. Such clauses in public-private contracts violate Article 14. Waiver u/s 12(5) is possible post-disputes. The ruling applies prospectively to three-member tribunals. A minority view permitted unilateral appointments if arbitrators meet eligibility criteria, limiting judicial intervention at appointment stage. The interplay between contractual autonomy and statutory duty to constitute independent tribunals was analyzed, with the latter being a non-derogable public policy under the Contract Act. Courts must scrutinize agreements to ensure compliance with this requirement while respecting party autonomy.
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