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 NCLAT upheld the Adjudicating Authority's order recalling the initiation of CIRP against the Corporate Debtor u/s 65 of the IBC. It found that the Section 7 application was filed fraudulently and with malicious intent by the Appellants for purposes other than insolvency resolution. The Appellants, despite being ineligible, had advanced alleged loans violating Section 186 of the Companies Act, creating a contrived situation of debt and default through collusion with the Corporate Debtor's promoters. The NCLAT dismissed the appeal, holding the findings of fraudulent CIRP initiation were justified based on the totality of circumstances.
The NCLAT upheld the Adjudicating Authority's order recalling the initiation of CIRP against the Corporate Debtor u/s 65 of the IBC. It found that the Section 7 application was filed fraudulently and with malicious intent by the Appellants for purposes other than insolvency resolution. The Appellants, despite being ineligible, had advanced alleged loans violating Section 186 of the Companies Act, creating a contrived situation of debt and default through collusion with the Corporate Debtor's promoters. The NCLAT dismissed the appeal, holding the findings of fraudulent CIRP initiation were justified based on the totality of circumstances.
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