Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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NCLAT analyzed a complex insolvency resolution case involving an assignment agreement and Section 7 application. The Tribunal held that the assignment agreement is partially void regarding immovable property in Tamil Nadu under Section 28 of the Registration Act, but remains valid for other financial assets. The Section 7 application was deemed not time-barred due to continuous debt acknowledgment in balance sheets. The appellant's deposit of principal amount did not discharge the financial creditor's debt, as the amount was not reflective of the debt at the time of application. The Tribunal ultimately upheld the adjudicating authority's order admitting the Section 7 application and disposed of the appeal accordingly.
NCLAT analyzed a complex insolvency resolution case involving an assignment agreement and Section 7 application. The Tribunal held that the assignment agreement is partially void regarding immovable property in Tamil Nadu under Section 28 of the Registration Act, but remains valid for other financial assets. The Section 7 application was deemed not time-barred due to continuous debt acknowledgment in balance sheets. The appellant's deposit of principal amount did not discharge the financial creditor's debt, as the amount was not reflective of the debt at the time of application. The Tribunal ultimately upheld the adjudicating authority's order admitting the Section 7 application and disposed of the appeal accordingly.
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