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 affirmed the NCLT's admission of the Section 7 application against the Corporate Debtor, holding that a legally enforceable financial debt existed and was due and payable as of the filing date. The One-Time Settlement with guarantors did not discharge the Corporate Debtor's liability, as the Bank neither issued a No Dues Certificate nor waived claims, continuing recovery proceedings and treating the debt as unpaid. The application was filed within the three-year limitation period under the Limitation Act. The Tribunal correctly exercised discretion under Section 7(5)(a) IBC, rejecting claims of solvency based solely on unapproved ongoing contracts. The appeal was dismissed, upholding the initiation of insolvency proceedings.
The NCLAT affirmed the NCLT's admission of the Section 7 application against the Corporate Debtor, holding that a legally enforceable financial debt existed and was due and payable as of the filing date. The One-Time Settlement with guarantors did not discharge the Corporate Debtor's liability, as the Bank neither issued a No Dues Certificate nor waived claims, continuing recovery proceedings and treating the debt as unpaid. The application was filed within the three-year limitation period under the Limitation Act. The Tribunal correctly exercised discretion under Section 7(5)(a) IBC, rejecting claims of solvency based solely on unapproved ongoing contracts. The appeal was dismissed, upholding the initiation of insolvency proceedings.
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