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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HC, under Article 226, dismissed the petition and held that a registered secured creditor pursuant to SARFAESI has statutory priority over State tax claims in realization of secured assets, subject to compliance with statutory conditions. The State revenue department, having failed to register its charge with CERSAI, cannot claim a first charge on the secured asset. The secured creditor is entitled to satisfaction of its debt from sale proceeds; any surplus realized over the secured debt must be paid to the State revenue department, and details of amounts realized are to be communicated to the department. Petition disposed of.
HC, under Article 226, dismissed the petition and held that a registered secured creditor pursuant to SARFAESI has statutory priority over State tax claims in realization of secured assets, subject to compliance with statutory conditions. The State revenue department, having failed to register its charge with CERSAI, cannot claim a first charge on the secured asset. The secured creditor is entitled to satisfaction of its debt from sale proceeds; any surplus realized over the secured debt must be paid to the State revenue department, and details of amounts realized are to be communicated to the department. Petition disposed of.
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