Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
NCLAT upheld the Committee of Creditors' (CoC) invocation of Performance Bank Guarantee (PBG) against the Successful Resolution Applicant (SRA) for failure to implement the approved Resolution Plan. The Appellate Tribunal found the PBG invocation valid under the Process Memorandum, rejected SRA's arguments about equity infusion, and determined that non-disclosure of Transaction Audit Report did not vitiate the Resolution Plan. The Tribunal directed refund of Rs. 22.09 crores to SRA from the fixed deposit after paying Rs. 20.9 crores to Interim Trade Creditors, denied SRA's 12% interest claim, and dismissed the Bank of Baroda's compensation application. The appeal was disposed of with the Resolution Plan implementation deemed unsustainable by the SRA.
NCLAT upheld the Committee of Creditors' (CoC) invocation of Performance Bank Guarantee (PBG) against the Successful Resolution Applicant (SRA) for failure to implement the approved Resolution Plan. The Appellate Tribunal found the PBG invocation valid under the Process Memorandum, rejected SRA's arguments about equity infusion, and determined that non-disclosure of Transaction Audit Report did not vitiate the Resolution Plan. The Tribunal directed refund of Rs. 22.09 crores to SRA from the fixed deposit after paying Rs. 20.9 crores to Interim Trade Creditors, denied SRA's 12% interest claim, and dismissed the Bank of Baroda's compensation application. The appeal was disposed of with the Resolution Plan implementation deemed unsustainable by the SRA.
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