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 the appellant's appeal challenging the winding-up order of the company. The appellant failed to dispute the debt liability until after the statutory winding-up notice, despite admitting a substantial sum via a demand promissory note. The court found the appellant's objections were not bona fide but attempts to frustrate the winding-up process. The acquittal in related criminal proceedings under section 139 of the NI Act was held irrelevant to the civil adjudication, as criminal proof requires proof beyond reasonable doubt, unlike the preponderance of probabilities standard in civil cases. Consequently, the appellant's reliance on the criminal acquittal to establish a bona fide dispute was rejected. The interim stay granted was vacated, confirming the company's inability to pay its debts and validating the winding-up petition.
The HC dismissed the appellant's appeal challenging the winding-up order of the company. The appellant failed to dispute the debt liability until after the statutory winding-up notice, despite admitting a substantial sum via a demand promissory note. The court found the appellant's objections were not bona fide but attempts to frustrate the winding-up process. The acquittal in related criminal proceedings under section 139 of the NI Act was held irrelevant to the civil adjudication, as criminal proof requires proof beyond reasonable doubt, unlike the preponderance of probabilities standard in civil cases. Consequently, the appellant's reliance on the criminal acquittal to establish a bona fide dispute was rejected. The interim stay granted was vacated, confirming the company's inability to pay its debts and validating the winding-up petition.
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