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...
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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 SC allowed the appeals, set aside the High Court order and upheld the validity of the sale certificate in favour of the secured creditor. The Court held that amended Section 13(8) of the SARFAESI Act extinguishes the borrower's right of redemption once the notice of sale/auction is published; redemption is permissible only before publication of such notice. The amended provision, being a special enactment, overrides inconsistent general law (including Section 60, TPA) and must be read with the SARFAESI scheme to further expeditious recovery. The High Court erred in exercising writ jurisdiction to quash the sale certificate where statutory remedies existed and no extraordinary circumstances justified bypassing them.
The SC allowed the appeals, set aside the High Court order and upheld the validity of the sale certificate in favour of the secured creditor. The Court held that amended Section 13(8) of the SARFAESI Act extinguishes the borrower's right of redemption once the notice of sale/auction is published; redemption is permissible only before publication of such notice. The amended provision, being a special enactment, overrides inconsistent general law (including Section 60, TPA) and must be read with the SARFAESI scheme to further expeditious recovery. The High Court erred in exercising writ jurisdiction to quash the sale certificate where statutory remedies existed and no extraordinary circumstances justified bypassing them.
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