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 Adjudicating Authority's order directing liquidation of the Corporate Debtor, dismissing the appeal. It reaffirmed that under Section 30(4) of the IBC, post-amendment, approval of a resolution plan requires not less than 66% of the voting share of all Financial Creditors, inclusive of those voting for, against, or abstaining. The Tribunal clarified that the percentage cannot be computed solely based on votes cast at the meeting or presence of particular creditors, as the statutory language mandates calculation based on the entire voting share of Financial Creditors. The omission of Regulation 2(1)(f) was held inconsequential to this interpretation. The decision aligns with the Supreme Court's interpretation that CIRP Regulations must be read in harmony with Section 30(4). The delay in adjudication did not vitiate the liquidation order, and the appeal was accordingly dismissed.
The NCLAT upheld the Adjudicating Authority's order directing liquidation of the Corporate Debtor, dismissing the appeal. It reaffirmed that under Section 30(4) of the IBC, post-amendment, approval of a resolution plan requires not less than 66% of the voting share of all Financial Creditors, inclusive of those voting for, against, or abstaining. The Tribunal clarified that the percentage cannot be computed solely based on votes cast at the meeting or presence of particular creditors, as the statutory language mandates calculation based on the entire voting share of Financial Creditors. The omission of Regulation 2(1)(f) was held inconsequential to this interpretation. The decision aligns with the Supreme Court's interpretation that CIRP Regulations must be read in harmony with Section 30(4). The delay in adjudication did not vitiate the liquidation order, and the appeal was accordingly dismissed.
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