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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SC overturned NCLAT and NCLT's rejection of Section 7 application, finding their approach excessively technical and formalistic. The initial tribunal had conditionally allowed filing of rejoinder affidavit after delay condonation but prohibited reliance on its contents - a contradictory stance that fundamentally undermined procedural fairness. The appellate body's affirmation of this position compounded the error. The Court emphasized that once delay is condoned, artificial restrictions cannot be imposed on utilizing the permitted document. This ruling reinforces the principle that procedural requirements should facilitate rather than obstruct substantive justice. Appeal sustained with directions to consider the application afresh including rejoinder submissions.
SC overturned NCLAT and NCLT's rejection of Section 7 application, finding their approach excessively technical and formalistic. The initial tribunal had conditionally allowed filing of rejoinder affidavit after delay condonation but prohibited reliance on its contents - a contradictory stance that fundamentally undermined procedural fairness. The appellate body's affirmation of this position compounded the error. The Court emphasized that once delay is condoned, artificial restrictions cannot be imposed on utilizing the permitted document. This ruling reinforces the principle that procedural requirements should facilitate rather than obstruct substantive justice. Appeal sustained with directions to consider the application afresh including rejoinder submissions.
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