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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HC dismissed the appeal and upheld the winding-up order under Section 433(e) of the Companies Act, 1956. The appellant-company failed to refund a Rs.50 lakh security deposit after contract termination despite its manufacturing business declining and supply difficulties. The court found no bona fide dispute existed, rejecting the company's contradictory and implausible defenses as lacking merit. Financial institutions had initiated recovery proceedings for crores, a receiver was appointed, and no production activities occurred for over five years. The company's offers to pay during proceedings without actual payment, combined with its financial misfortunes, were insufficient to resist winding-up. The court concluded the appellant-company was liable to repay the security deposit with interest, affirming the lower court's judgment.
HC dismissed the appeal and upheld the winding-up order under Section 433(e) of the Companies Act, 1956. The appellant-company failed to refund a Rs.50 lakh security deposit after contract termination despite its manufacturing business declining and supply difficulties. The court found no bona fide dispute existed, rejecting the company's contradictory and implausible defenses as lacking merit. Financial institutions had initiated recovery proceedings for crores, a receiver was appointed, and no production activities occurred for over five years. The company's offers to pay during proceedings without actual payment, combined with its financial misfortunes, were insufficient to resist winding-up. The court concluded the appellant-company was liable to repay the security deposit with interest, affirming the lower court's judgment.
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