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 dismissed the appeal and upheld the adjudicating authority's admission of the Section 7 application, finding a continuing debt and default by the corporate debtor despite the 09.11.2016 agreement; the revised timelines did not extinguish the obligation and the lead financial creditor validly recalled the entire loan on 09.11.2022, rendering the outstanding sum of Rs.6,10,25,59,513/- immediately due. The Tribunal rejected the appellant's contention that novation discharged liability and that the filing creditor lacked authority, holding clause 4.3(a) permitted individual enforcement by a creditor upon default. The impugned order admitting the Section 7 petition is affirmed and the appeal is dismissed.
NCLAT dismissed the appeal and upheld the adjudicating authority's admission of the Section 7 application, finding a continuing debt and default by the corporate debtor despite the 09.11.2016 agreement; the revised timelines did not extinguish the obligation and the lead financial creditor validly recalled the entire loan on 09.11.2022, rendering the outstanding sum of Rs.6,10,25,59,513/- immediately due. The Tribunal rejected the appellant's contention that novation discharged liability and that the filing creditor lacked authority, holding clause 4.3(a) permitted individual enforcement by a creditor upon default. The impugned order admitting the Section 7 petition is affirmed and the appeal is dismissed.
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