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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The HC dismissed a petition challenging NCLT's jurisdiction to entertain an application under Section 95 of the Insolvency and Bankruptcy Code, 2016. Petitioner contended that NCLT's initiation of proceedings violated IB Code provisions. The HC relied on Supreme Court precedent in Dilip B Jiwrajka v Union of India, which upheld constitutional validity of Sections 95-100 and rejected arguments requiring parties to be heard before Resolution Professional appointment. The Court held that Resolution Professional's enquiry is merely facilitative to collate facts, with the report being recommendatory. Guarantors receive adequate hearing opportunity at adjudication stage under Section 99(10) after receiving the report, ensuring no natural justice violation. The HC found petitioners had challenged application maintainability before NCLT, making tribunal consideration appropriate, with effective remedies available against adverse decisions.
The HC dismissed a petition challenging NCLT's jurisdiction to entertain an application under Section 95 of the Insolvency and Bankruptcy Code, 2016. Petitioner contended that NCLT's initiation of proceedings violated IB Code provisions. The HC relied on Supreme Court precedent in Dilip B Jiwrajka v Union of India, which upheld constitutional validity of Sections 95-100 and rejected arguments requiring parties to be heard before Resolution Professional appointment. The Court held that Resolution Professional's enquiry is merely facilitative to collate facts, with the report being recommendatory. Guarantors receive adequate hearing opportunity at adjudication stage under Section 99(10) after receiving the report, ensuring no natural justice violation. The HC found petitioners had challenged application maintainability before NCLT, making tribunal consideration appropriate, with effective remedies available against adverse decisions.
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