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 HC recalled its order approving a compromise between a bank and Savannah regarding the assignment of Shaila Clubs' loan. The Court determined the compromise was unlawful as it violated RBI Directives of 2021, which prohibit transfer of loan accounts to ineligible transferees. Savannah, not being a recognized transferee under RBI guidelines, could not legally acquire the loan. The Court rejected arguments regarding delay in filing the application for recall, holding that when a compromise is unlawful, technical grounds cannot prevent the Court from exercising its inherent power to recall orders. The Court restored the original petition, finding that allowing the unlawful compromise would frustrate RBI's regulatory objectives and improperly affect Shaila Clubs' rights without their consent.
The HC recalled its order approving a compromise between a bank and Savannah regarding the assignment of Shaila Clubs' loan. The Court determined the compromise was unlawful as it violated RBI Directives of 2021, which prohibit transfer of loan accounts to ineligible transferees. Savannah, not being a recognized transferee under RBI guidelines, could not legally acquire the loan. The Court rejected arguments regarding delay in filing the application for recall, holding that when a compromise is unlawful, technical grounds cannot prevent the Court from exercising its inherent power to recall orders. The Court restored the original petition, finding that allowing the unlawful compromise would frustrate RBI's regulatory objectives and improperly affect Shaila Clubs' rights without their consent.
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