经济学上对“劳动力”的定义是任何通过体力或脑力劳动并且在工作过程中除了获得满足以外还得到“工资”和利益的人。尽管在工作方法、专业和进行活动的方式方面有了巨大改变，但是在一个组织中，最为灵活和有价值保证的因素依旧是人员。L&S事务所的独特之处在于在L&S每一环节工作的人员乐于提高他们的工作质量并且培养寻求知识及令客户满意的氛围。

作为一家由专业人员组成的律师事务所，L&S注重培养人力资源，期望每一个成员能做到最好。

15 December 2016

The Supreme Court of India has held that State Bank of India is not liable to pay purchase tax for accepting Exim Scrips (Export Import License) or Replenishment licenses on payment of premium. The Reserve Bank of India in order to mop up unutilized Exim Scrips in the hands of the holders who were willing to dispose of the same through sp...

29 July 2016
 
Recently two different High Courts in India have, in separate decisions, considered the question of continuation of obligations, under the exemption notifications, after the said notification has been rescinded.
 
Obligations when not continuous

Madras High Court has held that ...

27 August, 2015
 
The Supreme Court of India has held that windmill doors and electrical boxes are components and/or parts of wind operated electricity generators (WOEG). Benefit of duty exemption under Notification No. 6/2002-C.E. (List 5, Item No. 13), listing “Wind operated electricity generators, their components and parts thereof”, was held as available to th...

20 June, 2014 Even while being largely factual, transfer pricing cases make an interesting read and bring out new arguments. In Ness Innovative Business Services P. Ltd v. DCIT, decided on 18-6-2014, ITAT, Hyderabad examined a few such arguments in ruling out comparables included by the Transfer Pricing Officer (TPO).  The assessee was engaged in business of software development services, did...

4 June, 2014 The WTO released its Annual Report on 28-5-2014. Not surprisingly, the ‘Bali Package’ has been highlighted as an important milestone in negotiations. The WTO is now 159 member strong – notable new entrants being, Russia, Laos and Tajikistan. Yemen is also joining the WTO to take the tally to 160. On dispute settlement, the report states that although the number fell as compared...

28 March, 2014 The importance/ impact of terms in agreements and terms of the agreement were brought to fore in the recent ruling of ITAT, Delhi in DDIT v. JC Bamford Excavators Ltd. [Order dated 14-3-2014].  The assessee had entered into an agreement with its subsidiary JCB India, deputing certain personnel who received payment for services rendered (claimed to be technical services), which ...

14 March, 2014 An importer praying for levy of higher amount of customs duty makes for a very good yarn. The case Best Key Textiles Ltd v. United States may not have settled the issue for once and for all as to what is metallised yarn but it provides an interesting insight into arriving at a classification and whether it can be argued that levy of lower customs duty is a trade rather than rev...

26 February, 2014 In a spate of interesting judgements delivered recently, the Allahabad High Court provided refreshing insight into classification and taxability under VAT laws. Oxygen -  Curative effect when used as medicine for medical purposes At issue was oxygen – Oxygen IP - prepared under license granted under Drugs and Cosmetics Rules, 1945. The revenue authorities sought to class...

15th November, 2013 Reinforcing, perhaps, the significance of finer distinctions in fact situations and observing that tax laws have to be interpreted at times with a touch of equity, the Delhi High court in DIT –I v. Alcatel Lucent held that interest under Section 234 B of Income Tax Act was payable by the assessee, since tax was payable and neither payment had been made nor TDS deducted. ...

26th June, 2013 To enable the Customs department to enhance the level of facilitation and speed up the process of cargo clearance, Risk Management System (RMS) is set to be introduced for exports from India. This procedure, already operational in respect of imports into India, is being implemented in respect of exports, from 15th of July this year in ICD Mulund (Mumbai) and ICD Patparganj (Ne...

15th May, 2013 Machines commercially referred to as “Tablet Computers” are more appropriately classifiable in Heading 8471, sub-heading 8471 30 of the Customs Tariff and not under Heading 8517 as mobile phones. Principal function Circular No. 20/2013-Cus., dated 14-5-2013 issued by the Central Board of Customs & Excise, India, holds that the function as an Automatic Data Processing Mach...