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 affirms the impugned order and dismisses the appeal. The court held that the Official Liquidator, acting pursuant to statutory duty, incurred bona fide preservation and security expenses in reliance on the appellant's officers' statements and court undertakings identifying the subject property as an asset of the company in liquidation. The appellant is estopped and barred by waiver from repudiating those unchallenged undertakings and court orders, and its unexplained, belated objection cannot vitiate the lawful actions of the Official Liquidator. Misrepresentation or suppression by officers undermines the liquidation process and attracts civil and penal consequences. The HC found the Official Liquidator's actions reasonable and justified, and affirmed the impugned order dated 20.04.2022.
The HC affirms the impugned order and dismisses the appeal. The court held that the Official Liquidator, acting pursuant to statutory duty, incurred bona fide preservation and security expenses in reliance on the appellant's officers' statements and court undertakings identifying the subject property as an asset of the company in liquidation. The appellant is estopped and barred by waiver from repudiating those unchallenged undertakings and court orders, and its unexplained, belated objection cannot vitiate the lawful actions of the Official Liquidator. Misrepresentation or suppression by officers undermines the liquidation process and attracts civil and penal consequences. The HC found the Official Liquidator's actions reasonable and justified, and affirmed the impugned order dated 20.04.2022.
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