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 NCLAT dismissed the appeal and refused restoration of the company petition under Section 9, affirming the adjudicating authority's rejection of revival and delay-condonation applications under NCLT Rule 48. The Tribunal held that repeated non-appearance of the Appellant's designated counsel evidenced lack of due diligence and absence of sufficient cause, not mere procedural lapse; shifting blame to former counsel and belatedly filing the restoration and condonation applications were insufficient. Restoration under Rule 48(2) was held available only on bona fide, prompt, and satisfactorily explained absence. Given repeated defaults, absence of credible justification and inaction, the appeal lacked merit and was dismissed.
The NCLAT dismissed the appeal and refused restoration of the company petition under Section 9, affirming the adjudicating authority's rejection of revival and delay-condonation applications under NCLT Rule 48. The Tribunal held that repeated non-appearance of the Appellant's designated counsel evidenced lack of due diligence and absence of sufficient cause, not mere procedural lapse; shifting blame to former counsel and belatedly filing the restoration and condonation applications were insufficient. Restoration under Rule 48(2) was held available only on bona fide, prompt, and satisfactorily explained absence. Given repeated defaults, absence of credible justification and inaction, the appeal lacked merit and was dismissed.
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