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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NCLAT upheld the Adjudicating Authority's admission of the Section 7 petition and dismissed the appeal, directing continuation of the CIRP under the I&B Code and CIRP Regulations, 2016. The Tribunal reaffirmed that the I&B Code is a comprehensive code governing resolution of corporate debtors and that the Committee of Creditors (CoC) enjoys commercial discretion to evaluate Expressions of Interest and settlement proposals. The appellant's revised OTS, including proposals involving a co-developer and investor, was considered but ultimately rejected by the consortium of banks; earlier approved OTS had lapsed. Banks opposing the appeal sought continuation of CIRP, and the Tribunal ordered resolution proceedings to proceed in accordance with law.
NCLAT upheld the Adjudicating Authority's admission of the Section 7 petition and dismissed the appeal, directing continuation of the CIRP under the I&B Code and CIRP Regulations, 2016. The Tribunal reaffirmed that the I&B Code is a comprehensive code governing resolution of corporate debtors and that the Committee of Creditors (CoC) enjoys commercial discretion to evaluate Expressions of Interest and settlement proposals. The appellant's revised OTS, including proposals involving a co-developer and investor, was considered but ultimately rejected by the consortium of banks; earlier approved OTS had lapsed. Banks opposing the appeal sought continuation of CIRP, and the Tribunal ordered resolution proceedings to proceed in accordance with law.
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