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 upheld rejection of Section 9 application under Insolvency and Bankruptcy Code for material concealment of facts and pre-existing disputes. Appellant failed to disclose that demand notice was based on MSEFC award dated 16.04.2018, concealed pending writ petition challenging said award before Kerala HC, and falsely averred that demand notice was not denied despite corporate debtor's reply denying liability citing pre-existing dispute. NCLAT applied clean hands doctrine, holding parties must approach judicial forums with complete disclosure of material facts bearing on adjudication. Since Section 9 proceedings were initiated through material concealment and evidence showed pre-existing disputes, tribunal's rejection was proper and required no interference. Appeal dismissed.
NCLAT upheld rejection of Section 9 application under Insolvency and Bankruptcy Code for material concealment of facts and pre-existing disputes. Appellant failed to disclose that demand notice was based on MSEFC award dated 16.04.2018, concealed pending writ petition challenging said award before Kerala HC, and falsely averred that demand notice was not denied despite corporate debtor's reply denying liability citing pre-existing dispute. NCLAT applied clean hands doctrine, holding parties must approach judicial forums with complete disclosure of material facts bearing on adjudication. Since Section 9 proceedings were initiated through material concealment and evidence showed pre-existing disputes, tribunal's rejection was proper and required no interference. Appeal dismissed.
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