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 the applications u/s 95 IBC filed by the creditor against the personal guarantors of the principal borrower were within limitation. The Tribunal noted two relevant dates: 27.06.2019 (recovery certificate) and 23.09.2019 (acceptance of OTS proposal by the borrower). The latter constituted an acknowledgment of debt under applicable limitation principles, thereby commencing a fresh three-year limitation period, further extended by exclusion of 15.03.2020 to 28.02.2022 pursuant to SC orders on Covid-19. Consequently, the application filed on 10.08.2024 was held timely. NCLAT also rejected the guarantors' contention that their guarantees had not been validly invoked, holding that the notice dated 29.11.2013 under Rule 7 was a statutory notice issued after invocation. Finding no merit in the grounds urged, NCLAT dismissed all appeals filed by the guarantors.
NCLAT held that the applications u/s 95 IBC filed by the creditor against the personal guarantors of the principal borrower were within limitation. The Tribunal noted two relevant dates: 27.06.2019 (recovery certificate) and 23.09.2019 (acceptance of OTS proposal by the borrower). The latter constituted an acknowledgment of debt under applicable limitation principles, thereby commencing a fresh three-year limitation period, further extended by exclusion of 15.03.2020 to 28.02.2022 pursuant to SC orders on Covid-19. Consequently, the application filed on 10.08.2024 was held timely. NCLAT also rejected the guarantors' contention that their guarantees had not been validly invoked, holding that the notice dated 29.11.2013 under Rule 7 was a statutory notice issued after invocation. Finding no merit in the grounds urged, NCLAT dismissed all appeals filed by the guarantors.
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