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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
NCLAT dismissed the appeal, upholding the adjudicating authority's determination that Respondent No.3 possessed a pre-existing statutory charge over the corporate debtor's immovable property by virtue of attachment effected prior to CIRP, thereby constituting a secured creditor under the relevant tax statute read with the IBC. The Tribunal held the attachment created a valid security interest operative before initiation of insolvency proceedings, and that subsequent judicial interpretation of the tax provision applied retrospectively unless expressly limited, rendering the tax authority's treatment as a secured creditor effective from the IBC's commencement. The impugned order was found to be free of infirmity and the appeal was rejected.
NCLAT dismissed the appeal, upholding the adjudicating authority's determination that Respondent No.3 possessed a pre-existing statutory charge over the corporate debtor's immovable property by virtue of attachment effected prior to CIRP, thereby constituting a secured creditor under the relevant tax statute read with the IBC. The Tribunal held the attachment created a valid security interest operative before initiation of insolvency proceedings, and that subsequent judicial interpretation of the tax provision applied retrospectively unless expressly limited, rendering the tax authority's treatment as a secured creditor effective from the IBC's commencement. The impugned order was found to be free of infirmity and the appeal was rejected.
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