Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
NCLAT dismissed the appeal challenging liquidated damages deduction from corporate debtor's invoices. The Appellate Tribunal held that liquidated damages deducted during contract performance per purchase order terms remain valid, and the approved resolution plan does not retrospectively invalidate such deductions. The tribunal affirmed the Adjudicating Authority's decision, emphasizing that contract terms prevail and no refund is mandated for damages legitimately assessed during contract execution, even after corporate insolvency resolution process initiation.
NCLAT dismissed the appeal challenging liquidated damages deduction from corporate debtor's invoices. The Appellate Tribunal held that liquidated damages deducted during contract performance per purchase order terms remain valid, and the approved resolution plan does not retrospectively invalidate such deductions. The tribunal affirmed the Adjudicating Authority's decision, emphasizing that contract terms prevail and no refund is mandated for damages legitimately assessed during contract execution, even after corporate insolvency resolution process initiation.
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