Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The NCLAT dismissed the appeal and upheld the Adjudicating Authority's order admitting the Operational Creditor's application for initiating CIRP against the Corporate Debtor. The key findings were: The Corporate Debtor admitted the outstanding operational debt exceeding the threshold limit through letters and emails. The alleged pre-existing disputes raised by the Corporate Debtor lacked credible evidence and appeared to be a moonshine defense. The Corporate Debtor failed to substantiate the claim of misappropriation of goods by the Operational Creditor. All conditions for initiating CIRP u/s 9 were fulfilled, and the Adjudicating Authority rightly admitted the application.
The NCLAT dismissed the appeal and upheld the Adjudicating Authority's order admitting the Operational Creditor's application for initiating CIRP against the Corporate Debtor. The key findings were: The Corporate Debtor admitted the outstanding operational debt exceeding the threshold limit through letters and emails. The alleged pre-existing disputes raised by the Corporate Debtor lacked credible evidence and appeared to be a moonshine defense. The Corporate Debtor failed to substantiate the claim of misappropriation of goods by the Operational Creditor. All conditions for initiating CIRP u/s 9 were fulfilled, and the Adjudicating Authority rightly admitted the application.
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