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 set aside the impugned order dated 03.01.2025 passed by the NCLT on grounds of violation of natural justice and absence of reasons. The NCLT failed to record any prima facie satisfaction or provide analysis and findings before issuing directions, rendering the order unreasoned and thus unsustainable. Additionally, the Respondents were not afforded adequate opportunity to oppose the application, as no proper notice was issued and the limited time to file a reply was deemed a mere formality. The Tribunal emphasized that reasons are essential in judicial orders to ensure transparency and fairness. Given that the NCLT did not consider the maintainability objections raised and failed to comply with the procedural safeguards under Rule 37, the appeal was allowed, and the impugned order was quashed accordingly.
The NCLAT set aside the impugned order dated 03.01.2025 passed by the NCLT on grounds of violation of natural justice and absence of reasons. The NCLT failed to record any prima facie satisfaction or provide analysis and findings before issuing directions, rendering the order unreasoned and thus unsustainable. Additionally, the Respondents were not afforded adequate opportunity to oppose the application, as no proper notice was issued and the limited time to file a reply was deemed a mere formality. The Tribunal emphasized that reasons are essential in judicial orders to ensure transparency and fairness. Given that the NCLT did not consider the maintainability objections raised and failed to comply with the procedural safeguards under Rule 37, the appeal was allowed, and the impugned order was quashed accordingly.
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