Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
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NCLAT dismissed the appeal, upholding the NCLT's discretionary waiver of eligibility criteria under Section 244(1)(b) of the Companies Act, 2013. The tribunal considered exceptional circumstances involving a sports-promoting Section 8 company, where four members filed a petition alleging oppression and mismanagement, supported by additional concerns from 90 members. The court found no prior adjudication of these allegations and recognized significant internal differences warranting judicial intervention. The waiver was granted based on public interest considerations and the potential merits of the underlying dispute, without prejudging the substantive claims of oppression and mismanagement.
NCLAT dismissed the appeal, upholding the NCLT's discretionary waiver of eligibility criteria under Section 244(1)(b) of the Companies Act, 2013. The tribunal considered exceptional circumstances involving a sports-promoting Section 8 company, where four members filed a petition alleging oppression and mismanagement, supported by additional concerns from 90 members. The court found no prior adjudication of these allegations and recognized significant internal differences warranting judicial intervention. The waiver was granted based on public interest considerations and the potential merits of the underlying dispute, without prejudging the substantive claims of oppression and mismanagement.
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