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 NCLT's rejection of a S.7 IBC application filed by the Appellant against the Corporate Debtor, holding that the underlying transaction did not constitute "financial debt." On examining the MoU dated 07.08.2013, the Appellate Tribunal found the arrangement to be in the nature of a joint development/joint venture for a real estate project, with the Appellant acting as developer and funds advanced as project-related payments, not as a loan or financial facility carrying time value of money. Consequently, default under S.7 was not established and CIRP could not be initiated. NCLAT clarified that dismissal of the S.7 application would not prejudice the Appellant's pending commercial suit for monetary recovery before the Delhi High Court, which may proceed independently in accordance with law.
NCLAT upheld the NCLT's rejection of a S.7 IBC application filed by the Appellant against the Corporate Debtor, holding that the underlying transaction did not constitute "financial debt." On examining the MoU dated 07.08.2013, the Appellate Tribunal found the arrangement to be in the nature of a joint development/joint venture for a real estate project, with the Appellant acting as developer and funds advanced as project-related payments, not as a loan or financial facility carrying time value of money. Consequently, default under S.7 was not established and CIRP could not be initiated. NCLAT clarified that dismissal of the S.7 application would not prejudice the Appellant's pending commercial suit for monetary recovery before the Delhi High Court, which may proceed independently in accordance with law.
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