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 validity of the auction sale conducted by the Liquidator, rejecting the challenge to set aside the sale despite the successful bidder's payment beyond the prescribed 90-day period under Regulation 33 of the Liquidation Process Regulations. The Tribunal recognized that the bidder demonstrated bona fide intent and financial capacity to pay within the stipulated time and that extraordinary external circumstances justified the Adjudicating Authority's exercise of inherent powers to extend the deadline with interest. The Liquidator's conduct in filing a conversion application was found proper and not in violation of the IBC framework. The successful bidder complied with the extended timeline, paying the balance consideration with interest, and the sale certificate was duly issued. The auction proceeds were distributed without prejudice to stakeholders. Consequently, the appeal was dismissed for lack of merit, affirming the auction's finality and the Adjudicating Authority's order.
The NCLAT upheld the validity of the auction sale conducted by the Liquidator, rejecting the challenge to set aside the sale despite the successful bidder's payment beyond the prescribed 90-day period under Regulation 33 of the Liquidation Process Regulations. The Tribunal recognized that the bidder demonstrated bona fide intent and financial capacity to pay within the stipulated time and that extraordinary external circumstances justified the Adjudicating Authority's exercise of inherent powers to extend the deadline with interest. The Liquidator's conduct in filing a conversion application was found proper and not in violation of the IBC framework. The successful bidder complied with the extended timeline, paying the balance consideration with interest, and the sale certificate was duly issued. The auction proceeds were distributed without prejudice to stakeholders. Consequently, the appeal was dismissed for lack of merit, affirming the auction's finality and the Adjudicating Authority's order.
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