Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Admission of a Section 7 insolvency application may be deferred only where relevant facts justify restraint, including the amount awarded, the wider debt position, and the corporate debtor's financial health and viability. Applying Vidarbha Industries Power Ltd., the Appellate Tribunal noted that the debt extended to consortium lenders, the execution claim was far below the admitted consortium debt, and the corporate debtor was only a project SPV with no independent business or income and no financial viability after takeover of the project. On those facts, the arbitral award in favour of the corporate debtor did not justify refusal or deferral of CIRP admission, and the Section 7 admission was upheld.
Admission of a Section 7 insolvency application may be deferred only where relevant facts justify restraint, including the amount awarded, the wider debt position, and the corporate debtor's financial health and viability. Applying Vidarbha Industries Power Ltd., the Appellate Tribunal noted that the debt extended to consortium lenders, the execution claim was far below the admitted consortium debt, and the corporate debtor was only a project SPV with no independent business or income and no financial viability after takeover of the project. On those facts, the arbitral award in favour of the corporate debtor did not justify refusal or deferral of CIRP admission, and the Section 7 admission was upheld.
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