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 NCLAT allowed the appeal and set aside the NCLT's dismissal of a Section 7 petition under the Insolvency and Bankruptcy Code, 2016. The NCLT had rejected the petition claiming it was aimed at recovery rather than resolution, constituting misuse of IBC provisions. The NCLAT held that once debt and default are established, the NCLT has no discretion to refuse admission under Section 7, citing Supreme Court precedents in M Suresh Kumar Reddy and Innoventive Industries. The corporate debtor had acknowledged both debt and default, which was recorded in the impugned order. The NCLAT rejected intervention by an unrelated third party lacking locus standi and dismissed arguments regarding prejudice to homebuyers, emphasizing that CIRP initiation cannot be rejected when debt and default are clearly established.
The NCLAT allowed the appeal and set aside the NCLT's dismissal of a Section 7 petition under the Insolvency and Bankruptcy Code, 2016. The NCLT had rejected the petition claiming it was aimed at recovery rather than resolution, constituting misuse of IBC provisions. The NCLAT held that once debt and default are established, the NCLT has no discretion to refuse admission under Section 7, citing Supreme Court precedents in M Suresh Kumar Reddy and Innoventive Industries. The corporate debtor had acknowledged both debt and default, which was recorded in the impugned order. The NCLAT rejected intervention by an unrelated third party lacking locus standi and dismissed arguments regarding prejudice to homebuyers, emphasizing that CIRP initiation cannot be rejected when debt and default are clearly established.
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