Discretionary powers of Controller - Rules 137 and 138
By Ranjan Matthew
The year 2011 witnessed two important High Court judgments - Nokia Corporation v Deputy Controller of Patents and Designs [W.P. No.2057 of 2010 and M.P.No.1 of 2010 - High Court of Madras] (Nokia case) and Nippon Steel Corporation v Union of India [W.P. (C) 801 of 2011 - High Court of Delhi] (Nippon Steel case) regarding, inter alia, procedural timelines that need to be...
Contractual right no more a capital asset?
By Sumeet Khurana
The case of Vodafone involved capital gains tax implication on transfer of shares of a Cayman Island entity CGP Investments (CGP) by another Cayman Island entity Hutchison Telecommunications International Limited (HTIL) to a Netherlands resident entity Vodafone International Holdings (VIH). HTIL had direct and indirect control to the extent o...
Design protection in India
By Konpal Rae & Sunil Tyagi
Scope of protection of design registration
The aesthetics of any article or product of manufacture are protected and registered in India under the Designs Act, 2000 (“the Act” for short) and Designs Rules, 2001, as amended in 2008. A “Design,” according to Section 2 (d) of the Act, is defined as features of shape, configuration, pattern, ornament or compos...
Derivatives as weapons of mass destruction: An Indian perspective
By Namita Sharma & Kunal Kishore
Derivatives have famously been described as ‘weapons of mass destruction’. The use of certain derivative products in India from around 2007–2009 has certainly led to financial destruction of several export companies who entered into these complex agreements, as well as arguably damaging the reputation of Indian banking sector. This arti...
Budget 2012 – Negative list is not a panacea for Service Tax ills
By Dr. G. Gokul Kishore
As the D-day nears, the voices get shriller. Most of them, obviously, are interest groups who are recognised as key players in policy-making process. The prayers and petitions echo the stereotypes one has been hearing for many years. Tax-payers with evergreen agenda of reduction in rates, industry with mercurial entrepreneurship pleading for sops and support from the S...
India tightens anti-dumping law - Anti-circumvention rules introduced
By Manoj Gupta
India has joined the select group of countries that have put in place anti-circumvention law to address issues relating to circumvention of anti-dumping duties. The law has been introduced in two stages. First, sub-section (1A) was inserted into Section 9A of the Customs Tariff Act, 1975 through the Finance Act, 2011 that came into force from 8th April 2011. Secondly, the relev...
Gold imports - The plus and minus of duty hike
By V. Sridhar
The Government of India have recently increased the import duty on gold. The earlier specific rate of Rs 300 per 10 gm has been replaced by an ad-valorem duty of 2%. At the current international price of about Rs 27000 per 10 gm, the new rate translates into a rate of Rs 540 per 10 gm, a whopping increase of 80 per cent of the earlier rate.
Gold is the third majo...
By Gayatri Sridharan
“Statute law is the will of the legislature; and the object of all judicial interpretation of it is to determine what intention is either expressly or by implication conveyed by the language used, so far as necessary for the purpose of determining whether a particular case or state of facts which is presented to the interpreter fall within it.” - These were the opening wo...
Internet publications & applicability of ‘learned society’ exception
By Sudarshan S. Shekhawat
Generally speaking, all enabling publications before the priority date of claims of patents shall be anticipatory. Section 13(2) of the Indian Patents Act, 1970 (hereinafter ‘the Act’)(see end note 1), considers all such documents relevant for anticipation. However, there are exceptions to the above rule. Many jurisdictions provide that disclosures/publication wit...
Micro Finance Institutions — Categorization as NBFCs
By Noorul Hassan & Anup Koushik Karavadi
Schemes to eradicate poverty are not new in India. Right from nationalization of banks in the year 1969, SHG (Self Help Group) – Bank Linkage Programme in 1992 till the recent categorization of Micro Finance Institutions in 2011 by the Reserve Bank of India, different schemes have been implemented by the government and are still being im...
Re-visit Land Acquisition Bill
By Avinash Menon
Acquisition of land in India is currently regulated by the Land Acquisition Act, 1894. It has been apparent for a long time that the Act has outlived its purpose and that there is an urgent need for a new land acquisition law. There have been multiple amendments to the Act, both by the Central Government as well as State Governments. In 2007, the Central Government had prop...
Self-assessment and post-clearance audit in Customs
By V. Sridhar
In the Budget of 2011 changes were made in the Customs Act, 1962 so as to introduce a new concept of self-assessment and post-clearance audit. This article briefly analyses the new provisions, their implications to the revenue administration and to the community of importers and exporters.
Before getting into specifics, it would be useful to refer to a trend that has been e...