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 rejected Section 7 proceedings initiated by debenture holders against a corporate debtor on multiple grounds. The Tribunal determined that the proceedings were procedurally defective as they failed to comply with conditions in the Debenture Trust Deed, which required authorization by majority resolution of debenture holders before the Debenture Trustee could initiate insolvency proceedings. Additionally, the application was time-barred as it was filed on September 7, 2023, well beyond the limitation period that expired on September 30, 2022, even after accounting for COVID-19 extensions granted by the SC. The NCLAT also found the proceedings were initiated without valid authority and potentially malicious, violating Section 65 of the IBC.
The NCLAT rejected Section 7 proceedings initiated by debenture holders against a corporate debtor on multiple grounds. The Tribunal determined that the proceedings were procedurally defective as they failed to comply with conditions in the Debenture Trust Deed, which required authorization by majority resolution of debenture holders before the Debenture Trustee could initiate insolvency proceedings. Additionally, the application was time-barred as it was filed on September 7, 2023, well beyond the limitation period that expired on September 30, 2022, even after accounting for COVID-19 extensions granted by the SC. The NCLAT also found the proceedings were initiated without valid authority and potentially malicious, violating Section 65 of the IBC.
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