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 held that the Adjudicating Authority erroneously extended the limitation period based on an arbitral award without a formal amendment to the Section 7 application. The Financial Creditor failed to formally change the date of default from 12.11.2018 through an amendment petition. Despite acknowledging the Supreme Court's precedent on arbitral awards constituting financial debt, the Tribunal found procedural irregularities in extending limitation. The matter was remanded to the Adjudicating Authority to reconsider the Section 7 application on merits, allowing potential amended pleadings by the Financial Creditor, thereby preserving the right to a substantive hearing while maintaining procedural integrity.
NCLAT held that the Adjudicating Authority erroneously extended the limitation period based on an arbitral award without a formal amendment to the Section 7 application. The Financial Creditor failed to formally change the date of default from 12.11.2018 through an amendment petition. Despite acknowledging the Supreme Court's precedent on arbitral awards constituting financial debt, the Tribunal found procedural irregularities in extending limitation. The matter was remanded to the Adjudicating Authority to reconsider the Section 7 application on merits, allowing potential amended pleadings by the Financial Creditor, thereby preserving the right to a substantive hearing while maintaining procedural integrity.
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