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 an application for withdrawal of CIRP under Section 12A of the IBC must be considered as filed on the actual date of submission of the application under Regulation 30A, which distinguishes between filing before and after the constitution of the CoC. Where the application is filed before the CoC's constitution, approval by 90% of the CoC voting share is not required. However, if filed post-constitution, Section 12A's approval mandate applies in full. The appellant's argument relying solely on a Supreme Court observation was rejected, as the CoC had been constituted prior to the application's filing date. The appellant's failure to challenge the IRP's conduct via a miscellaneous application was noted. Consequently, the appeals lacked merit and were dismissed.
The NCLAT held that an application for withdrawal of CIRP under Section 12A of the IBC must be considered as filed on the actual date of submission of the application under Regulation 30A, which distinguishes between filing before and after the constitution of the CoC. Where the application is filed before the CoC's constitution, approval by 90% of the CoC voting share is not required. However, if filed post-constitution, Section 12A's approval mandate applies in full. The appellant's argument relying solely on a Supreme Court observation was rejected, as the CoC had been constituted prior to the application's filing date. The appellant's failure to challenge the IRP's conduct via a miscellaneous application was noted. Consequently, the appeals lacked merit and were dismissed.
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