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 upheld the Adjudicating Authority's admission of the Section 7 application, dismissing the appeal. The Tribunal found that the respondent's disbursal of Rs.1,00,00,000 on 20.11.2010, consistently recorded in the corporate debtor's balance sheets as "other long-term liabilities," establishes a financial debt within the meaning of Section 5(8) IBC; the time value of money requirement is satisfied. The appellant's retrospective assertion of a consultancy advance, supported only by a pro forma invoice dated nearly two years after disbursement and a belated claim before the liquidator, was held to be unsubstantiated and inherently improbable. Debt and default were found proved; no interference with the admission order was warranted.
NCLAT upheld the Adjudicating Authority's admission of the Section 7 application, dismissing the appeal. The Tribunal found that the respondent's disbursal of Rs.1,00,00,000 on 20.11.2010, consistently recorded in the corporate debtor's balance sheets as "other long-term liabilities," establishes a financial debt within the meaning of Section 5(8) IBC; the time value of money requirement is satisfied. The appellant's retrospective assertion of a consultancy advance, supported only by a pro forma invoice dated nearly two years after disbursement and a belated claim before the liquidator, was held to be unsubstantiated and inherently improbable. Debt and default were found proved; no interference with the admission order was warranted.
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