Transfer pricing adjustments for software services, corporate guarantees, expense characterisation and foreign tax credit affirmed under arm's length ...
Scientific Research approval for Sikshya O Anusandhan under section 35(1)(ii) granted subject to reporting, certification, and compliance requirements...
The dominant issue was whether the CLB had jurisdiction to condone a 249-day delay in an appeal under s.58(3) of the Companies Act, 2013, including whether s.433 (enabling application of the Limitation Act, 1963) could apply retrospectively to CLB proceedings. The Court held that, during the interregnum before 01.06.2016, the statute did not empower the CLB to apply s.5 of the Limitation Act, and its limited "court-like" status and procedural regulations could not be expanded into a power to extend statutory limitation. Section 58(3) was construed as mandatory; the High Court's affirmance was set aside and the appeal allowed. - SC
The dominant issue was whether the CLB had jurisdiction to condone a 249-day delay in an appeal under s.58(3) of the Companies Act, 2013, including whether s.433 (enabling application of the Limitation Act, 1963) could apply retrospectively to CLB proceedings. The Court held that, during the interregnum before 01.06.2016, the statute did not empower the CLB to apply s.5 of the Limitation Act, and its limited "court-like" status and procedural regulations could not be expanded into a power to extend statutory limitation. Section 58(3) was construed as mandatory; the High Court's affirmance was set aside and the appeal allowed. - SC
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