articles
Direct Tax
Situs of application of income vis-à-vis the expenditure made abroad for charitable purpose in India
19 十二月 2019
The Income-tax Act, 1961 (“the Act”) provides for various benefits to a trust formed for charitable or religious purposes. Section 11 of the Act exempts the income derived from property held under trust for charitable purposes from taxation, inter alia, to the extent to which such income is applied for such purposes ‘in India’. The phrase ‘applied for charitable purposes in India’ has been a subject matter of litigation in the recent past.
Intellectual Property Rights
Exploring the requirement of sufficiency of disclosure in patent specification
16 十二月 2019
A patent is a monopoly granted to an applicant in return for his invention being made public so that at the end of the patent term, the invention may benefit the people at large. The disclosure in a patent specification can also be used during the term of the patent for further development of the technology.
Corporate Advisory, Regulatory Laws
The draft E-Commerce Rules - Moving towards protectionism
09 十二月 2019
The Ministry of Consumer Affairs, recently, on November 11, 2019, under Section 101(1)(zg) of the Consumer Protection Act, 2019 issued a draft set of rules on e-commerce titled the Consumer Protection (e-commerce) Rules, 2019 (“Draft Rules”).
Intellectual Property Rights
The right to cross-examine in a post-grant opposition
29 十一月 2019
In the case of Onyx Therapeutics Inc v Union of India , a Division Bench of the Delhi High Court vide its order dated September 26, 2019 held that once the Patentee has filed its reply-statement, the Patentee is not required to provide any separate reasons for cross-examination of the witnesses whose affidavits are filed by the Opponent in support of its Post-grant Opposition.
Direct Tax
Taxation of income from shipping business
29 十一月 2019
The shipping industry plays a vital role in the international trade. The recent UNCTAD report provides that more than four fifths of world merchandise trade by volume is carried by sea. Indian companies also generally use foreign vessels or avail the carriage services of foreign shipping companies for transportation and other business activities. The amount paid to these foreign shipping companies may be taxed in India if the income accrues or is received in India.
Goods and Services Tax
CGST Rule 36(4) - 20% of which credit are you eligible for?
27 十一月 2019
Change is the only constant’ - A phrase the CBIC seems to have adopted with the trade being bombarded with a barrage of amendments and day to day clarifications in the GST laws since the implementation of GST.
Customs, Goods and Services Tax
Pre-import condition and Rule 96(10) - Misplaced comforts and GST implications for Advance Authorization holders
27 十一月 2019
With the end of 2019 right around the corner, it is interesting to reflect back on the changes that the tax fabric has seen in the past year. One of the major reliefs that the assessees received at the beginning of 2019 (in January) was the removal of a ghost known as “Pre-import condition” specifically for manufacturers who were Advance Authorization holders.
International Trade & WTO
Panel Report in India-Export Related Measures – End of the road for export promotion programs?
26 十一月 2019
On 14 March 2018, the United States requested consultations with the Government of India under the WTO Dispute Settlement Mechanism on some of the export promotion programs maintained by India.
Goods and Services Tax
The Dividend Dilemma
30 十月 2019
In order to stay one step ahead, it is imperative for every business to take stock of its financial position to devise a suitable investment strategy from time to time. While some may settle with the traditional approach of buying and holding stable dividend paying stocks to generate a steady income stream, others may adventure in frequent trading, holding the stocks just long enough to capture dividend it pays.
International Trade & WTO
Regional Comprehensive Economic Partnership (RCEP): India’s concerns
25 十月 2019
The mega trade agreement amongst ASEAN and its FTA partners, the Regional Comprehensive Economic Partnership, is slated for conclusion by November 2019.
Direct Tax
Deduction for additional employment - Simple yet ambiguous
23 十月 2019
In the wake of rising reports on unemployment, the Central Government has taken various steps to fulfil its commitment of job creation. As part of these efforts, the provisions of Income-tax Act, 1961 (‘IT Act’) were amended[see endnote 1] to substitute the provisions of Section 80JJAA of the IT Act[see endnote 2] with seemingly less restrictive and simpler provisions to encourage job creation.
Intellectual Property
State Biological Diversity Rules – A puzzle waiting to be solved
10 十月 2019
India ratified the Convention on Biological Diversity (CBD), which was held in Rio de Janeiro, Brazil, in 1992[endnote 1] by becoming a Party to it on February 1994. Thus, bega
Mergers & Acquisitions / PE
‘Appointed date’ in a scheme of arrangement – More flexible and effective
09 十月 2019
A scheme for reconstruction of a company or companies involving merger or amalgamation under Chapter XV of the Companies Act, 2013 ("Companies Act") envisages two dates i.e. the "appointed date"
Regulatory Laws
Draft Employees’ Provident Funds and Miscellaneous Provisions (Amendment) Bill, 2019 – An analysis
09 十月 2019
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (“EPF Act”) is a social welfare legislation which aims to provide social security benefits such as Provident Fund, Superannuation Pension, Invalidation Pension, Family Pension and Deposit-Linked Insurance to employees.
Direct Tax
Satisfaction of the ‘make available’ condition in services of short duration – An analysis
30 九月 2019
The interpretation of the 'make available' clause in respect of Fees for Included Services (FIS) in the India-US DTAA had been matter of much debate, more so since certain other treaties like India-UK als
International Trade & WTO
Role of ‘adjustment plan’ in Safeguard investigations
25 九月 2019
By virtue of India's accession to the World Trade Organization ("WTO"), India has agreed to the requirements of all the multilateral agreements under the framework of the WTO.
Customs
The Social Welfare Surcharge conundrum
23 九月 2019
The raging dispute on levy of piggy-back cesses such as education cesses, where duty payments were made by debit to the duty credit scrips such as DEPB scrips, is yet to settle down. The controversy has come back with a r
Intellectual Property Rights
Validity and infringement of a Patent:
16 九月 2019
Introduction In Communication Components Antenna Inc v. Ace Technologies Corp. and Ors [CS (Comm) No. 1222/2018], the Plaintiff had sought a permanent
Corporate Advisory
Preference Liquidation Hit or Miss?
05 九月 2019
The terms of the transaction documents for mergers and acquisitions are often dictated by the economics of investment and the bargaining position of the parties. The terms so contractually ag