News
Corporate guarantee having bearing on profits is an International Transaction
17 七月 2015
Corporate guarantees have often been examined for transfer pricing adjustment. While there are number of judgements on how to determine the ALP and that bank rates are not to be applied, whether the transaction is an international transaction is always intriguing.
Mandatory pre-deposit for appeals filed prior to 6-8-2014
16 七月 2015
Rajasthan High Court has agreed with the earlier Order of the court (Paramount Security v. UoI – W.P. No. 12232) which had held that effect of the amendment to Section 35F of the Central Excise Act, 1944 in 2014 cannot be restricted only for appeals filed after 6-8-2014.
Competition law – Factors for dominance
16 七月 2015
The Competition Commission of India (CCI) has recently set aside the application of the informant alleging contravention of the provisions of Section 4 of the Competition Act, by one the airlines in India.
ADD – New Zealand proposes automatic termination period
09 七月 2015
New Zealand continues to seek ways to reform its anti-dumping and countervailing duties regime. Last year it had sought views on introduction of a bounded public interest test (Refer, International Trade Amicus, July 2014 issue) and now proposes to lay down the broad parameters and procedure to take into account the effect of AD, on public - parties other than domestic producers.
Commissions paid by manufacturer to related exporter - Inclusion in export price
09 七月 2015
European Union’s General Court has upheld the downward adjustment to the export price in respect of commissions paid by the manufacturer to its exporter. The applicant-manufacturer here was of the view that they and the exporter (Singaporean entity) formed a single economic entity and that, consequently, there was no need to carry out any downward adjustments in export price to the EU.
Exemption notification – Applicability of Interpretative Rules of Excise Tariff
03 七月 2015
Three Judges Bench of the Supreme Court has, on 1-7-2015, held that Rules of Interpretation of the Central Excise Tariff may not be applicable if the notification (exemption notification) commands and require a different understanding.
Share transfers – Pre-emption agreement when does not violate ‘free transferability’
23 六月 2015
Division Bench of the Bombay High Court has reversed the Order of the Single Bench holding that the pre-emption right as recognised by certain clause of the Protocol Agreement which was incorporated in the Articles of Association of the company, was contrary to the provisions of the Companies Act and hence was unenforceable.
Electricity supply without a distribution license, when valid
22 六月 2015
The Appellate Tribunal for Electricity has upheld the Order of the State Commission wherein the latter has allowed the system for supply of power by the generating company to its individual industrial consumers directly from its dedicated transmission lines considering the load centre as a consumer under Section 10(2), read with Section 42(2) of the Electricity Act 2003, without obtaining any distribution license.
When an interlocked toy is not essentially interlocked
19 六月 2015
A toy can be in any shape. Toys have provided enough infotainment from children to pets, to customs lawyers if one recalls the disputes over classification of Halloween costumes and flying discs for dogs to play with (HQ H240490, Canine Hardware Inc) and of course IP lawyers.
Copyright law does not bar remedy against breach of confidence
19 六月 2015
In a suit involving breach of confidence action which also alleged infringement of copyright, the Bombay High Court has granted interim injunction restraining the defendant from releasing the offending film alleged to be based on the script/screenplay of the plaintiff.