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 HC held that statutory demands for sales tax levies on the corporate debtor instituted after commencement of CIRP are unenforceable where the revenue authority did not submit its claim in the resolution process; such claims stand extinguished on approval of the resolution plan. Post-moratorium assessments are confined to inclusion as statements of claim before the resolution professional and cannot be pursued in parallel proceedings. Consequently, the impugned administrative order and the demand notice dated 14-09-2020 issued by the respondent were quashed, and the writ petition was allowed, with the petitioner relieved from the challenged demand and related proceedings.
The HC held that statutory demands for sales tax levies on the corporate debtor instituted after commencement of CIRP are unenforceable where the revenue authority did not submit its claim in the resolution process; such claims stand extinguished on approval of the resolution plan. Post-moratorium assessments are confined to inclusion as statements of claim before the resolution professional and cannot be pursued in parallel proceedings. Consequently, the impugned administrative order and the demand notice dated 14-09-2020 issued by the respondent were quashed, and the writ petition was allowed, with the petitioner relieved from the challenged demand and related proceedings.
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