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 affirmed the Adjudicating Authority's admission of the Section 7 petition under the IBC, 2016. The Tribunal held that the Financial Creditor proved existence of a financial debt (s.5(8)) and default (s.3(12)) as at the NPA date (30.09.2017) exceeding the statutory threshold, relying on bank statements, ZLCC minutes, CIBIL records and successive OTS proposals by the Corporate Debtor which acknowledged liability. The Tribunal found the Section 13(2) notice was not withdrawn and that the Bank's correspondence declining possession proceedings did not negate default. Having considered limitation and other objections, the AA's finding of debt and default was upheld and the appeal dismissed.
NCLAT dismissed the appeal and affirmed the Adjudicating Authority's admission of the Section 7 petition under the IBC, 2016. The Tribunal held that the Financial Creditor proved existence of a financial debt (s.5(8)) and default (s.3(12)) as at the NPA date (30.09.2017) exceeding the statutory threshold, relying on bank statements, ZLCC minutes, CIBIL records and successive OTS proposals by the Corporate Debtor which acknowledged liability. The Tribunal found the Section 13(2) notice was not withdrawn and that the Bank's correspondence declining possession proceedings did not negate default. Having considered limitation and other objections, the AA's finding of debt and default was upheld and the appeal dismissed.
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