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 Appellate Tribunal (NCLAT) dismissed the company appeal as time-barred, holding the appellant could not invoke Section 14 Limitation Act to exclude periods spent litigating a commercial suit which he instituted and pursued to final judgment on 05.10.2021. The tribunal found the appellant had constructive knowledge of the alleged wrongful transfer of 500 shares on 11.05.2016, rendering proceedings under Section 59 Companies Act barred by the limitation period read with Sections 3 and 5 Limitation Act. The earlier Commercial Court judgment operating as constructive res judicata precludes relief; no extension of limitation was warranted and the appeal was accordingly dismissed.
The Appellate Tribunal (NCLAT) dismissed the company appeal as time-barred, holding the appellant could not invoke Section 14 Limitation Act to exclude periods spent litigating a commercial suit which he instituted and pursued to final judgment on 05.10.2021. The tribunal found the appellant had constructive knowledge of the alleged wrongful transfer of 500 shares on 11.05.2016, rendering proceedings under Section 59 Companies Act barred by the limitation period read with Sections 3 and 5 Limitation Act. The earlier Commercial Court judgment operating as constructive res judicata precludes relief; no extension of limitation was warranted and the appeal was accordingly dismissed.
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