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 SC clarified that applications for fraudulent and wrongful trading under Section 66 of IBC are distinct from avoidance applications under Sections 43, 45, and 50. The Court upheld NCLT's approval of the Resolution Plan, ruling that NCLAT had improperly interfered with the Committee of Creditors' commercial wisdom regarding recoveries from fraudulent transactions. The Court emphasized that judicial review of resolution plans is limited to compliance with Section 30(2) requirements, with commercial decisions left to the CoC's discretion. The SC further determined that the resolution plan did not violate RBI or NHB Acts, as neither statute mandates full payment of deposits. The NCLT was directed to separately adjudicate avoidance applications and Section 66 applications.
The SC clarified that applications for fraudulent and wrongful trading under Section 66 of IBC are distinct from avoidance applications under Sections 43, 45, and 50. The Court upheld NCLT's approval of the Resolution Plan, ruling that NCLAT had improperly interfered with the Committee of Creditors' commercial wisdom regarding recoveries from fraudulent transactions. The Court emphasized that judicial review of resolution plans is limited to compliance with Section 30(2) requirements, with commercial decisions left to the CoC's discretion. The SC further determined that the resolution plan did not violate RBI or NHB Acts, as neither statute mandates full payment of deposits. The NCLT was directed to separately adjudicate avoidance applications and Section 66 applications.
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