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 allowed the appeal, set aside the impugned NCLT order dismissing the restoration application, and directed revival of the original petition. The Appellate Tribunal held that the withdrawal before the NCLT was predicated on a settlement deed containing an express revival clause permitting restoration upon default by the respondent/corporate debtor; the adjudicating authority erred by refusing restoration on a hyper-technical basis that the withdrawal order did not expressly reserve revival rights. The NCLAT found such dismissal manifestly illegal, restored the petition filed by the appellant, and remitted the matter for fresh adjudication by the NCLT strictly in accordance with law.
The NCLAT allowed the appeal, set aside the impugned NCLT order dismissing the restoration application, and directed revival of the original petition. The Appellate Tribunal held that the withdrawal before the NCLT was predicated on a settlement deed containing an express revival clause permitting restoration upon default by the respondent/corporate debtor; the adjudicating authority erred by refusing restoration on a hyper-technical basis that the withdrawal order did not expressly reserve revival rights. The NCLAT found such dismissal manifestly illegal, restored the petition filed by the appellant, and remitted the matter for fresh adjudication by the NCLT strictly in accordance with law.
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