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 upheld the maintainability of the Section 7 application, determining that the amount advanced by Respondent No. 1 constituted a financial debt rather than an operational debt. The agreement evidenced a financial contribution of Rs. 35 lakh secured by a demand promissory note with interest, intended to support the corporate debtor's business expansion and procurement of specialized equipment, not for purchase of goods or services. The tribunal rejected the appellant's argument that the debt related to operational activities, emphasizing the need to ascertain the true nature of the transaction. Consequently, the impugned order was affirmed, and the appeal was dismissed.
The NCLAT upheld the maintainability of the Section 7 application, determining that the amount advanced by Respondent No. 1 constituted a financial debt rather than an operational debt. The agreement evidenced a financial contribution of Rs. 35 lakh secured by a demand promissory note with interest, intended to support the corporate debtor's business expansion and procurement of specialized equipment, not for purchase of goods or services. The tribunal rejected the appellant's argument that the debt related to operational activities, emphasizing the need to ascertain the true nature of the transaction. Consequently, the impugned order was affirmed, and the appeal was dismissed.
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