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 HC dismissed the petition. The court held that following initiation of CIRP a moratorium and public announcement are mandated and that liquidation ordered by the CoC brought the Corporate Debtor into liquidation under the Code. The 1st Respondent was recognised as a secured creditor under Section 3(30) and Section 52; its security interest could not be defeated by the impugned attachment or the subsequent sale registration. The auction sale and sale certificate are quashed insofar as they impair the secured creditor's rights. The liquidator must assist in recovering amounts paid to other claimants and, upon full payment to the secured creditor, the attachment shall be vacated.
The HC dismissed the petition. The court held that following initiation of CIRP a moratorium and public announcement are mandated and that liquidation ordered by the CoC brought the Corporate Debtor into liquidation under the Code. The 1st Respondent was recognised as a secured creditor under Section 3(30) and Section 52; its security interest could not be defeated by the impugned attachment or the subsequent sale registration. The auction sale and sale certificate are quashed insofar as they impair the secured creditor's rights. The liquidator must assist in recovering amounts paid to other claimants and, upon full payment to the secured creditor, the attachment shall be vacated.
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