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 SC dismissed the application under Section 11 of the Arbitration and Conciliation Act, 1996, holding that no arbitration agreement existed between the parties. The Court clarified that while exercising powers under Section 11, it must conduct a preliminary examination of the clause alleged to be an arbitration agreement to determine if it prima facie satisfies the requirements under Section 7, without conducting a full trial. Clause 13, relied upon by the appellant, was found not to constitute an arbitration agreement as it merely outlined a dispute resolution procedure with an option to seek arbitration, which was not mutually agreed upon. Clause 32, concerning jurisdiction, did not negate arbitration but was irrelevant since no arbitration agreement existed. Consequently, the High Court's rejection of the appointment of an arbitrator was affirmed, and the appeal was dismissed.
The SC dismissed the application under Section 11 of the Arbitration and Conciliation Act, 1996, holding that no arbitration agreement existed between the parties. The Court clarified that while exercising powers under Section 11, it must conduct a preliminary examination of the clause alleged to be an arbitration agreement to determine if it prima facie satisfies the requirements under Section 7, without conducting a full trial. Clause 13, relied upon by the appellant, was found not to constitute an arbitration agreement as it merely outlined a dispute resolution procedure with an option to seek arbitration, which was not mutually agreed upon. Clause 32, concerning jurisdiction, did not negate arbitration but was irrelevant since no arbitration agreement existed. Consequently, the High Court's rejection of the appointment of an arbitrator was affirmed, and the appeal was dismissed.
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