Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
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Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
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Corporate guarantees executed by the corporate debtor were held to constitute financial debt under Section 5(8) of the Code because liabilities under guarantees for money borrowed against payment of interest fall within that definition. The Court accepted that the guarantees were in existence and had been verified, and held that non-disclosure in financial statements did not defeat the substantive claim. It further held that non-submission before the NCLT was not fatal, since documents could be produced on appeal and the resolution professional was entitled to verify claims. Insufficient stamping was treated as a curable defect, not a ground to render the guarantees unenforceable. The concurrent findings rejecting the claims were found perverse and were set aside, with directions to include the appellants in the committee of creditors.
Corporate guarantees executed by the corporate debtor were held to constitute financial debt under Section 5(8) of the Code because liabilities under guarantees for money borrowed against payment of interest fall within that definition. The Court accepted that the guarantees were in existence and had been verified, and held that non-disclosure in financial statements did not defeat the substantive claim. It further held that non-submission before the NCLT was not fatal, since documents could be produced on appeal and the resolution professional was entitled to verify claims. Insufficient stamping was treated as a curable defect, not a ground to render the guarantees unenforceable. The concurrent findings rejecting the claims were found perverse and were set aside, with directions to include the appellants in the committee of creditors.
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