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 held that Atul Paper Pvt. Ltd., having an unregistered Agreement to Sell, is not entitled to protection under Section 53A of the Transfer of Property Act, as per Section 17(1) of the Registration Act, 1908. Consequently, the Adjudicating Authority's direction for Atul Paper Pvt. Ltd. to vacate the premises was upheld. The claim of Rs. 2.51 crores filed by Atul Paper Pvt. Ltd. was wrongly rejected by the Liquidator solely on the ground of delay; thus, the appeal challenging this rejection was partly allowed, directing the Liquidator to admit and treat the claim according to the IBC distribution framework. However, the Adjudicating Authority's order directing payment of Rs. 2.01 crores to Atul Paper Pvt. Ltd. outside the statutory distribution mechanism was set aside, with a mandate for the Liquidator to refund the amount with any interest within 30 days. The appeal was dismissed in all other respects.
The NCLAT held that Atul Paper Pvt. Ltd., having an unregistered Agreement to Sell, is not entitled to protection under Section 53A of the Transfer of Property Act, as per Section 17(1) of the Registration Act, 1908. Consequently, the Adjudicating Authority's direction for Atul Paper Pvt. Ltd. to vacate the premises was upheld. The claim of Rs. 2.51 crores filed by Atul Paper Pvt. Ltd. was wrongly rejected by the Liquidator solely on the ground of delay; thus, the appeal challenging this rejection was partly allowed, directing the Liquidator to admit and treat the claim according to the IBC distribution framework. However, the Adjudicating Authority's order directing payment of Rs. 2.01 crores to Atul Paper Pvt. Ltd. outside the statutory distribution mechanism was set aside, with a mandate for the Liquidator to refund the amount with any interest within 30 days. The appeal was dismissed in all other respects.
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