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 allowed the appeal, setting aside the NCLT's order rejecting the Section 7 IBC application on the ground of lack of competence of the creditor's representative. It held that, after reserving judgment, NCLT could not entertain an oral objection on authorization and then disregard the subsequently filed Board Resolution and IA under Section 60(5) IBC without reasoned adjudication. The procedure adopted was found to be legally flawed and not a proper adjudication of the lis on merits. The matter was remitted to NCLT, Hyderabad Bench, to reconsider the Section 7 petition afresh on all issues, including authorization, after granting effective opportunity of hearing to both sides.
NCLAT allowed the appeal, setting aside the NCLT's order rejecting the Section 7 IBC application on the ground of lack of competence of the creditor's representative. It held that, after reserving judgment, NCLT could not entertain an oral objection on authorization and then disregard the subsequently filed Board Resolution and IA under Section 60(5) IBC without reasoned adjudication. The procedure adopted was found to be legally flawed and not a proper adjudication of the lis on merits. The matter was remitted to NCLT, Hyderabad Bench, to reconsider the Section 7 petition afresh on all issues, including authorization, after granting effective opportunity of hearing to both sides.
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