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 dismissed the company appeal filed by the corporate guarantor, upholding the NCLT, Chennai's admission of a s.7 IBC application. It held that, although on the filing date against the guarantor no CIRP was pending against the principal borrower, by the time the guarantor's petition was heard, the s.7 application against the principal borrower stood registered and pending. Applying s.60(2) IBC, NCLAT ruled that proceedings arising from the same debenture trust deed must be adjudicated before a common forum to avoid conflicting determinations. It rejected the contention that "pendency" under s.60(2) requires commencement of CIRP, holding that initiation and pendency of a s.7 application suffices, and further found that any objection to concurrent territorial jurisdiction had been waived by not being raised at the earliest stage.
NCLAT dismissed the company appeal filed by the corporate guarantor, upholding the NCLT, Chennai's admission of a s.7 IBC application. It held that, although on the filing date against the guarantor no CIRP was pending against the principal borrower, by the time the guarantor's petition was heard, the s.7 application against the principal borrower stood registered and pending. Applying s.60(2) IBC, NCLAT ruled that proceedings arising from the same debenture trust deed must be adjudicated before a common forum to avoid conflicting determinations. It rejected the contention that "pendency" under s.60(2) requires commencement of CIRP, holding that initiation and pendency of a s.7 application suffices, and further found that any objection to concurrent territorial jurisdiction had been waived by not being raised at the earliest stage.
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