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 dismissed the appeal filed by a central excise authority claiming secured creditor status for recovery of Central Excise Duty and Service Tax dues under Section 11E of the Central Excise Act, 1944. The tribunal held that the appellant could not be treated as a secured creditor within the meaning of Section 53 of the IBC, distinguishing the Supreme Court's decision in Rainbow Papers which recognized state tax officers as secured creditors under specific VAT legislation creating security interests by operation of law. The tribunal emphasized that creation of security interest is sine qua non for secured creditor status, and rejected the appellant's claim for parity with state GST departments, noting that Section 11E does not create equivalent security interests as Section 48 of Gujarat VAT Act or Section 55 of Odisha VAT Act.
NCLAT dismissed the appeal filed by a central excise authority claiming secured creditor status for recovery of Central Excise Duty and Service Tax dues under Section 11E of the Central Excise Act, 1944. The tribunal held that the appellant could not be treated as a secured creditor within the meaning of Section 53 of the IBC, distinguishing the Supreme Court's decision in Rainbow Papers which recognized state tax officers as secured creditors under specific VAT legislation creating security interests by operation of law. The tribunal emphasized that creation of security interest is sine qua non for secured creditor status, and rejected the appellant's claim for parity with state GST departments, noting that Section 11E does not create equivalent security interests as Section 48 of Gujarat VAT Act or Section 55 of Odisha VAT Act.
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