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 National Company Law Appellate Tribunal held that the Section 7 application filed by the Financial Creditor was hopelessly barred by limitation and dismissed it. The cause of action for refund of investment arose on 16.12.2010 as per the agreement, and the limitation period of three years expired on 15.12.2013. The Corporate Debtor had refunded the amount of Rs. 1.7 crores to the Financial Creditor through third parties, and the Financial Creditor's long silence indicated satisfaction of the refund of Rs. 3 crores. The Tribunal found no grounds to invoke Section 65 of the IBC for imposing penalty on the Financial Creditor as the Corporate Debtor did not plead that the proceedings were initiated maliciously or with fraudulent intent. The appeal was allowed.
The National Company Law Appellate Tribunal held that the Section 7 application filed by the Financial Creditor was hopelessly barred by limitation and dismissed it. The cause of action for refund of investment arose on 16.12.2010 as per the agreement, and the limitation period of three years expired on 15.12.2013. The Corporate Debtor had refunded the amount of Rs. 1.7 crores to the Financial Creditor through third parties, and the Financial Creditor's long silence indicated satisfaction of the refund of Rs. 3 crores. The Tribunal found no grounds to invoke Section 65 of the IBC for imposing penalty on the Financial Creditor as the Corporate Debtor did not plead that the proceedings were initiated maliciously or with fraudulent intent. The appeal was allowed.
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