Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
NCLAT dismissed the appeal filed by the appellants challenging the NCLT's order directing investigation under s.213 of the Companies Act, 2013 into the affairs of Appellant No.1. Relying on established principles that such investigation cannot be ordered on bare allegations and requires subjective satisfaction based on material indicating public interest prejudice or detriment to members, NCLAT held that the NCLT had correctly applied the law. The Tribunal noted multiple observer reports by a former High Court judge alleging fraudulent transactions, siphoning of funds, and data gaps, and found no prima facie bias. NCLAT held that conclusive proof is not required at this stage, only good reasons and a prima facie case, both of which were adequately recorded in the impugned order.
NCLAT dismissed the appeal filed by the appellants challenging the NCLT's order directing investigation under s.213 of the Companies Act, 2013 into the affairs of Appellant No.1. Relying on established principles that such investigation cannot be ordered on bare allegations and requires subjective satisfaction based on material indicating public interest prejudice or detriment to members, NCLAT held that the NCLT had correctly applied the law. The Tribunal noted multiple observer reports by a former High Court judge alleging fraudulent transactions, siphoning of funds, and data gaps, and found no prima facie bias. NCLAT held that conclusive proof is not required at this stage, only good reasons and a prima facie case, both of which were adequately recorded in the impugned order.
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