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 held that, under Regulation 7 read with Form B of the CIRP Regulations and in light of the SC's recognition of contractual/equitable set-off, an operational creditor may claim set-off of mutual dues while filing its claim in CIRP. In the present case, undisputed mutual liabilities existed between the Appellant and the CD under their agreements. The RP erred in refusing to allow set-off and in not restricting the Appellant's admitted claim to the net amount after adjusting Rs. 5,56,59,526 payable by the Appellant. NCLAT held that the Appellant's claim should stand at Rs. 3,40,46,082 on a net basis, but clarified that this adjustment does not affect the approved resolution plan, its implementation, or payouts to any stakeholder. The approval of the resolution plan is maintained and the appeal is disposed of with the above modification.
NCLAT held that, under Regulation 7 read with Form B of the CIRP Regulations and in light of the SC's recognition of contractual/equitable set-off, an operational creditor may claim set-off of mutual dues while filing its claim in CIRP. In the present case, undisputed mutual liabilities existed between the Appellant and the CD under their agreements. The RP erred in refusing to allow set-off and in not restricting the Appellant's admitted claim to the net amount after adjusting Rs. 5,56,59,526 payable by the Appellant. NCLAT held that the Appellant's claim should stand at Rs. 3,40,46,082 on a net basis, but clarified that this adjustment does not affect the approved resolution plan, its implementation, or payouts to any stakeholder. The approval of the resolution plan is maintained and the appeal is disposed of with the above modification.
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