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 transaction between parties constituted a "financial debt" under IBC Section 5(8). The tribunal determined the transaction was a loan, not a sale/purchase, based on multiple critical factors: (1) interest rate of 18% on monthly compounding, (2) fixed repayment date of 31.03.2021, (3) explicit acknowledgment of loan in financial statements, and (4) clauses indicating property could be mortgaged for loan repayment. The agreements demonstrated clear intention of financial assistance with time value of money. Consequently, the NCLT's previous order was set aside, and the Section 7 petition was admitted, recognizing the appellant as a financial creditor under the Insolvency and Bankruptcy Code.
NCLAT held that the transaction between parties constituted a "financial debt" under IBC Section 5(8). The tribunal determined the transaction was a loan, not a sale/purchase, based on multiple critical factors: (1) interest rate of 18% on monthly compounding, (2) fixed repayment date of 31.03.2021, (3) explicit acknowledgment of loan in financial statements, and (4) clauses indicating property could be mortgaged for loan repayment. The agreements demonstrated clear intention of financial assistance with time value of money. Consequently, the NCLT's previous order was set aside, and the Section 7 petition was admitted, recognizing the appellant as a financial creditor under the Insolvency and Bankruptcy Code.
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