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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NCLAT dismissed the appeal challenging the rejection of a Section 95 application. The Tribunal held that a valid guarantee invocation requires strict compliance with contractual terms. The default on the part of the guarantor must exist at the time of issuing the demand notice. The Tribunal emphasized that the mere issuance of a notice under Rule 7(1) does not automatically constitute guarantee invocation. The application was deemed non-maintainable due to failure to satisfy mandatory pre-requisites for filing the application, specifically the proper invocation of the guarantee as per the deed's terms. Consequently, the lower court's order was upheld, and the appeal was dismissed without merit.
NCLAT dismissed the appeal challenging the rejection of a Section 95 application. The Tribunal held that a valid guarantee invocation requires strict compliance with contractual terms. The default on the part of the guarantor must exist at the time of issuing the demand notice. The Tribunal emphasized that the mere issuance of a notice under Rule 7(1) does not automatically constitute guarantee invocation. The application was deemed non-maintainable due to failure to satisfy mandatory pre-requisites for filing the application, specifically the proper invocation of the guarantee as per the deed's terms. Consequently, the lower court's order was upheld, and the appeal was dismissed without merit.
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