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 High Court analyzed the distinction between ministerial and adjudicatory functions in the context of filing a petition u/s 95 of the Insolvency and Bankruptcy Code, 2016. The court held that the Registrar of NCLT, while receiving and registering the petition, performs a ministerial function and does not have the authority to adjudicate on the maintainability or merits of the petition. The adjudicatory stage commences after the resolution professional submits a report to the NCLT. The court clarified that the automatic moratorium resulting from filing a Section 95 petition does not amount to abuse of process. The Registrar cannot reject the petition by examining its maintainability, as such adjudication falls within the domain of the NCLT at the appropriate stage. The High Court set aside the Single Judge's order allowing the writ petition.
The High Court analyzed the distinction between ministerial and adjudicatory functions in the context of filing a petition u/s 95 of the Insolvency and Bankruptcy Code, 2016. The court held that the Registrar of NCLT, while receiving and registering the petition, performs a ministerial function and does not have the authority to adjudicate on the maintainability or merits of the petition. The adjudicatory stage commences after the resolution professional submits a report to the NCLT. The court clarified that the automatic moratorium resulting from filing a Section 95 petition does not amount to abuse of process. The Registrar cannot reject the petition by examining its maintainability, as such adjudication falls within the domain of the NCLT at the appropriate stage. The High Court set aside the Single Judge's order allowing the writ petition.
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