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The NCLAT set aside the impugned order admitting the Section 7 application, holding that the petition stood withdrawn under the third Proviso to Section 7(1) as amended by the IBC (Amendment) Act, 2020. The original Section 7 application, filed by eight homebuyers prior to the amendment, was required to be modified to meet the threshold of 100 allottees or 10% of total unit holders, which was not complied with. The appellant was directed to honor its settlement proposal by allowing withdrawal of amounts deposited with interest at SBI FD rates within 60 days and reviving allotments canceled by the corporate debtor post-filing, subject to payment of the balance consideration under the Builder Buyer Agreement. The appeal was disposed of accordingly, emphasizing strict adherence to the amended provisions for Section 7 applications.
The NCLAT set aside the impugned order admitting the Section 7 application, holding that the petition stood withdrawn under the third Proviso to Section 7(1) as amended by the IBC (Amendment) Act, 2020. The original Section 7 application, filed by eight homebuyers prior to the amendment, was required to be modified to meet the threshold of 100 allottees or 10% of total unit holders, which was not complied with. The appellant was directed to honor its settlement proposal by allowing withdrawal of amounts deposited with interest at SBI FD rates within 60 days and reviving allotments canceled by the corporate debtor post-filing, subject to payment of the balance consideration under the Builder Buyer Agreement. The appeal was disposed of accordingly, emphasizing strict adherence to the amended provisions for Section 7 applications.
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