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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
The HC affirmed that principles of natural justice, specifically audi alteram partem, apply to proceedings under RBI Directions regarding fraud classification. Following Rajesh Agarwal (SC), the court held that borrowers must be afforded an opportunity of hearing before their accounts are classified as fraud, given the significant civil consequences that follow such classification. The court clarified that this principle requires not only allowing written representations but also providing personal hearings to affected parties. The impugned direction by the Single Judge mandating such hearings was upheld as proper implementation of natural justice principles. The Letters Patent Appeal challenging this direction was accordingly dismissed.
The HC affirmed that principles of natural justice, specifically audi alteram partem, apply to proceedings under RBI Directions regarding fraud classification. Following Rajesh Agarwal (SC), the court held that borrowers must be afforded an opportunity of hearing before their accounts are classified as fraud, given the significant civil consequences that follow such classification. The court clarified that this principle requires not only allowing written representations but also providing personal hearings to affected parties. The impugned direction by the Single Judge mandating such hearings was upheld as proper implementation of natural justice principles. The Letters Patent Appeal challenging this direction was accordingly dismissed.
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