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 upholds admission of the Section 95 application by the financial creditor and affirms enforceability of the personal guarantee executed on 02.03.2016. The Tribunal found cogent bank records, including bank statements and a promissory note, establish that credit facilities aggregating Rs. 44 crore were disbursed to the corporate borrower and that the guarantee was supported by consideration. The appellant's contention that no subsequent disbursal or pending DRT counterclaim precluded initiation of Section 95 proceedings was rejected. NCLAT declined to interfere with the adjudicating authority's order admitting the Section 95 application, noting the appellant remains free to advance a repayment proposal before the resolution professional in accordance with law.
NCLAT upholds admission of the Section 95 application by the financial creditor and affirms enforceability of the personal guarantee executed on 02.03.2016. The Tribunal found cogent bank records, including bank statements and a promissory note, establish that credit facilities aggregating Rs. 44 crore were disbursed to the corporate borrower and that the guarantee was supported by consideration. The appellant's contention that no subsequent disbursal or pending DRT counterclaim precluded initiation of Section 95 proceedings was rejected. NCLAT declined to interfere with the adjudicating authority's order admitting the Section 95 application, noting the appellant remains free to advance a repayment proposal before the resolution professional in accordance with law.
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