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 during an interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016, no additional financial creditor can initiate fresh proceedings against a personal guarantor when legal actions are already underway. The Appellate Tribunal confined its review to the specific grounds presented, finding no apparent error in the lower tribunal's order rejecting subsequent applications. The tribunal emphasized that once proceedings under Section 95 are initiated with an interim moratorium, other creditors are precluded from filing parallel applications. Consequently, the appeal was dismissed for lacking substantive merit, with a recommendation to expedite the existing insolvency proceedings.
NCLAT held that during an interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016, no additional financial creditor can initiate fresh proceedings against a personal guarantor when legal actions are already underway. The Appellate Tribunal confined its review to the specific grounds presented, finding no apparent error in the lower tribunal's order rejecting subsequent applications. The tribunal emphasized that once proceedings under Section 95 are initiated with an interim moratorium, other creditors are precluded from filing parallel applications. Consequently, the appeal was dismissed for lacking substantive merit, with a recommendation to expedite the existing insolvency proceedings.
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