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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
In a back-to-back construction contract, the NCLAT held that where the corporate debtor was entitled only to a 4% margin and had assigned the risks, liabilities and profit share to the sub-contractor, the remaining 96% of receivables from the principal employer belonged to the sub-contractor and was held in trust outside the liquidation estate under section 36(4)(a)(i). It also held that, because the project continued during CIRP to keep the corporate debtor as a going concern, the sub-contractor's running bills formed part of CIRP costs rather than operational debt, and no claim in Form C was required. Interest on the withheld amount was confined to simple interest at 9% up to the date of the impugned order.
In a back-to-back construction contract, the NCLAT held that where the corporate debtor was entitled only to a 4% margin and had assigned the risks, liabilities and profit share to the sub-contractor, the remaining 96% of receivables from the principal employer belonged to the sub-contractor and was held in trust outside the liquidation estate under section 36(4)(a)(i). It also held that, because the project continued during CIRP to keep the corporate debtor as a going concern, the sub-contractor's running bills formed part of CIRP costs rather than operational debt, and no claim in Form C was required. Interest on the withheld amount was confined to simple interest at 9% up to the date of the impugned order.
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