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 dismissed the appeal, confirming that the Section 7 petition was not time-barred due to the Corporate Debtor's acknowledgment of debt in its FY 2019-20 balance sheet, which extended the limitation period. The Tribunal held that while the original default occurred on 31.12.2015, the limitation period was extended by the acknowledgment and further by the Supreme Court's COVID-19 relief order. The Appellant's claims of excessive interest rates (30% p.a. with 36% p.a. penal interest) were rejected as the Corporate Debtor had voluntarily executed and adhered to the loan agreement without previous challenge. The Tribunal noted that if settlement is desired, Respondent may file a Section 12-A application within two weeks; otherwise, CIRP would proceed.
The NCLAT dismissed the appeal, confirming that the Section 7 petition was not time-barred due to the Corporate Debtor's acknowledgment of debt in its FY 2019-20 balance sheet, which extended the limitation period. The Tribunal held that while the original default occurred on 31.12.2015, the limitation period was extended by the acknowledgment and further by the Supreme Court's COVID-19 relief order. The Appellant's claims of excessive interest rates (30% p.a. with 36% p.a. penal interest) were rejected as the Corporate Debtor had voluntarily executed and adhered to the loan agreement without previous challenge. The Tribunal noted that if settlement is desired, Respondent may file a Section 12-A application within two weeks; otherwise, CIRP would proceed.
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