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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HC held that discussions on converting a bridge loan into a term loan amounted only to a proposal and did not result in novation under S.62 Contract Act. Consequently, the original amended Bridge Loan Agreement subsisted, the security cheques represented a legally enforceable debt when presented, and complaints under S.138 NI Act are maintainable. On vicarious liability under S.141 NI Act, HC ruled that specific averments of being in charge of day-to-day affairs are mandatory; mere designation as Director is insufficient. Proceedings against the non-executive "professional" Director were quashed, while petitions by other accused Directors were dismissed.
HC held that discussions on converting a bridge loan into a term loan amounted only to a proposal and did not result in novation under S.62 Contract Act. Consequently, the original amended Bridge Loan Agreement subsisted, the security cheques represented a legally enforceable debt when presented, and complaints under S.138 NI Act are maintainable. On vicarious liability under S.141 NI Act, HC ruled that specific averments of being in charge of day-to-day affairs are mandatory; mere designation as Director is insufficient. Proceedings against the non-executive "professional" Director were quashed, while petitions by other accused Directors were dismissed.
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