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...
Page of 4828
Press 'Enter' after typing page number.
161 to 180 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The HC held that the Official Liquidator's practice of depositing unpaid amounts into a common pool fund and utilizing these funds for payment of special/additional staff and office expenses contravenes Section 555 of the Companies Act, 1956. The court emphasized the statutory obligation to deposit such amounts into the respective company's liquidation account. The continuation of company-paid staff, deemed necessary solely for the Official Liquidator's office and not for liquidation proceedings, must be borne at the risk and cost of the Ministry of Corporate Affairs. The court directed that the amount in the common pool fund be transferred to the company liquidation account within 14 working days. Consequently, permission to appoint a Peon (MTS) in the liquidation of the company was not granted, and the application was disposed of with instructions for compliance.
The HC held that the Official Liquidator's practice of depositing unpaid amounts into a common pool fund and utilizing these funds for payment of special/additional staff and office expenses contravenes Section 555 of the Companies Act, 1956. The court emphasized the statutory obligation to deposit such amounts into the respective company's liquidation account. The continuation of company-paid staff, deemed necessary solely for the Official Liquidator's office and not for liquidation proceedings, must be borne at the risk and cost of the Ministry of Corporate Affairs. The court directed that the amount in the common pool fund be transferred to the company liquidation account within 14 working days. Consequently, permission to appoint a Peon (MTS) in the liquidation of the company was not granted, and the application was disposed of with instructions for compliance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
