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 NCLT's rejection of Section 12A withdrawal application filed before Committee of Creditors constitution. Corporate debtor's Interim Resolution Professional filed withdrawal application after settling dues with one financial creditor, but another financial creditor timely filed claims and objected. NCLAT held that when CoC is not constituted, stakeholders may directly approach NCLT under Regulation 30A of CIRP Regulations. Adjudicating Authority properly considered relevant factors including nature and quantum of claims, noting NCLT is not merely a post office for Section 12A applications. Court emphasized no rigid formula exists for deciding withdrawal applications; each case requires fact-specific analysis considering objecting stakeholders' claims and settlement amounts with other creditors.
NCLAT upheld NCLT's rejection of Section 12A withdrawal application filed before Committee of Creditors constitution. Corporate debtor's Interim Resolution Professional filed withdrawal application after settling dues with one financial creditor, but another financial creditor timely filed claims and objected. NCLAT held that when CoC is not constituted, stakeholders may directly approach NCLT under Regulation 30A of CIRP Regulations. Adjudicating Authority properly considered relevant factors including nature and quantum of claims, noting NCLT is not merely a post office for Section 12A applications. Court emphasized no rigid formula exists for deciding withdrawal applications; each case requires fact-specific analysis considering objecting stakeholders' claims and settlement amounts with other creditors.
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