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...
Whether operational debt and default existed: the tribunal found invoices for supply of 346 units undisputedly delivered, partial payments accepted without quality/quantity or pricing objections, and an outstanding unpaid balance of €1,28,204.70 - therefore default on an operational debt that was due and payable was established. Whether pre-existing disputes barred Section 9 relief: the alleged exclusivity agreement involved a different legal entity, the injunction suit concerned distinct subject-matter and was not raised in the demand notice, and the asserted disputes were held frivolous - consequently no bona fide pre-existing dispute existed and admission under Section 9/CIRP initiation was valid. - NCLAT
Whether operational debt and default existed: the tribunal found invoices for supply of 346 units undisputedly delivered, partial payments accepted without quality/quantity or pricing objections, and an outstanding unpaid balance of €1,28,204.70 - therefore default on an operational debt that was due and payable was established. Whether pre-existing disputes barred Section 9 relief: the alleged exclusivity agreement involved a different legal entity, the injunction suit concerned distinct subject-matter and was not raised in the demand notice, and the asserted disputes were held frivolous - consequently no bona fide pre-existing dispute existed and admission under Section 9/CIRP initiation was valid. - NCLAT
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