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 dismissed the Section 9 application filed by the Operational Creditor due to the existence of a pre-existing dispute concerning the amount payable by the Corporate Debtor. The Operational Creditor admitted only eight out of seventeen credit notes issued for special quantity discounts, evidencing a commercial arrangement between the parties. The Corporate Debtor's ledger reflected an outstanding balance of Rs. 22,56,833/-, which it was willing to pay, but the Operational Creditor refused acceptance. The Tribunal held that the dispute was not a mere feeble legal argument but a plausible contention requiring investigation, thereby negating the application under Section 9. The Adjudicating Authority correctly refrained from detailed inquiry and upheld the rejection of the application. The Corporate Debtor was directed to remit the admitted outstanding amount within two weeks upon receipt of bank details from the Operational Creditor.
The NCLAT dismissed the Section 9 application filed by the Operational Creditor due to the existence of a pre-existing dispute concerning the amount payable by the Corporate Debtor. The Operational Creditor admitted only eight out of seventeen credit notes issued for special quantity discounts, evidencing a commercial arrangement between the parties. The Corporate Debtor's ledger reflected an outstanding balance of Rs. 22,56,833/-, which it was willing to pay, but the Operational Creditor refused acceptance. The Tribunal held that the dispute was not a mere feeble legal argument but a plausible contention requiring investigation, thereby negating the application under Section 9. The Adjudicating Authority correctly refrained from detailed inquiry and upheld the rejection of the application. The Corporate Debtor was directed to remit the admitted outstanding amount within two weeks upon receipt of bank details from the Operational Creditor.
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