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Our attorneys and specialists remain up-to-date with the latest legal developments and offer their perspectives and critical commentary.

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Direct Tax

Taxing compensation receipts – Whittling away the relief?

16 February 2018

While taxing of long term capital gains and insertion of the Income Computation and Disclosure Standards (ICDS) have been some of the major talking points post presentation of Budget this year, the apparently innocuous insertion in Section 28 has not received much attention.

Intellectual Property Rights

Protection of designs vis-à-vis newness and originality

14 February 2018

By Godhuli Nanda There is required sufficient novelty and originality for a completely new creation to come into existence as a design, and only thereafter would the design be said to be one which is capable of being protected as a design under

Goods and Services Tax, Regulatory Laws

Legal metrology - New labelling rules could agitate businesses

12 February 2018

The Legal Metrology (Packaged Commodities) Rules, 2011 which govern the pre-packed commodities, were amended by Notification Number G.S.R. 629 (E) dated 23rd June 2017 and the said amendments have become effective from 1-1-2018.

Goods and Services Tax

E-way bill provisions and valuation of goods

12 February 2018

The objective of plugging revenue leakage or tax evasion will take a step ahead with the introduction of E-way bill rules as the tax administration can keep track of every movement of goods above the specified value.

Insolvency

The Insolvency and Bankruptcy Code (Amendment) Act, 2018 – Analysis of the Key Changes

05 February 2018

The Insolvency & Bankruptcy Code, 2016 (the “Code”) consolidated the archaic insolvency laws, provided a consolidated legislation and revolutionised the insolvency regime in India.

International Trade & WTO

Sunset Reviews: Whether mandatory

24 January 2018

Anti-dumping duty can be levied in India for a period not exceeding five years in terms of Section 9A(5) of the Customs Tariff Act, 1975.

Goods and Services Tax

Why tax liquidated damages?

22 January 2018

Performance is the essence of a contract and hence parties to contract generally incorporate their expectation in terms of damage caused by failure of either party to perform its obligations completely or as per the agreed terms.

Direct Tax

Non-compete fee received from former employer - The argument of capital receipt

19 January 2018

The income chargeable under the head ‘salaries’ is one of the heads of incomes which covers exhaustively, ‘payments’ made between persons in the capacity of employer and employee.

Intellectual Property Rights

Rights of author in literary work and producer of cinematograph film - Scope in context of “dubbing” and “remake”

11 January 2018

In one of the first decisions of its kind, the Division Bench of the Hon’ble Madras High Court in the case of Thiagarajan Kumararaja v. Capital Film Works (India) Pvt. Ltd.

Regulatory Laws

Aiming greater transparency on sale of packaged commodity online

03 January 2018

The e-commerce sector has witnessed a phenomenal growth in the past few years resulting in the Central Government hightailing numerous legislative actions, initiatives and policies to regulate e-commerce companies. The Government vi

Corporate Advisory

Condonation of Delay Scheme, 2018

03 January 2018

Statutorily, Companies are required to file their annual financial statements and annual returns with the Registrar of Companies of their respective jurisdictions (“RoC”) in the forms as prescribed and rolled out by Ministry of Corporate Affairs (“MCA”) from time to time.

International Trade & WTO

DGAD sets straight the procedures regarding Sunset Reviews

02 January 2018

In the summer of 2017, the Supreme Court delivered a judgment that dealt with sunset reviews of anti-dumping duty. 

Treatment of vouchers under GST law

28 December 2017

With the increasing trend of electronic commerce, adoption of prepaid vouchers and gift cards has reached new heights. Vouchers are instruments which are redeemable on its face value against supply of goods or services.

Direct Tax

Guarantee Fee – No interest on lending credit-worthiness

26 December 2017

The payments relating to debt claims, service fee or other charge, could be characterized as interest provided there is privity of such contract.’

Intellectual Property Rights

Scope of Section 3(h) of the Patents Act, 1970 - An analysis

26 December 2017

Chapter II of the Indian Patents Act, 1970 (hereinafter the “Act”) enlists Inventions not patentable. Section 3(h) of the Act mandates that “a method of agriculture or horticulture” as non-patentable subject matter.

Regulatory Laws

Luck Factor - An analysis of changes in Gaming Law

05 December 2017

In today’s world, there is no sector or industry which does not marginally, if not entirely, depend on technology for its business purposes. This has shrunk the physical world and enlarged the virtual space, increasingly so in the field of gaming, thereby changing its rules.

Refund of accumulated input tax credit – Certain unresolved issues

30 November 2017

The landmark tax reform of Goods and Services Tax (GST) as introduced from 1st July, 2017, is nearing completion of 5 months. The GST Council has conducted 23 meetings with continuous effort of making GST robust. 

Intellectual Property Rights

Section 59 of the Patents Act, 1970 – Scope of amendments

30 November 2017

Amendments of patent applications may involve amending any portion of either the complete specification, or any information pertaining to such patent application. Such amendments may be made at any time during a life cycle of a patent application.

Direct Tax

Section 40(a)(ii) and taxes paid abroad - A discussion

29 November 2017

As per section 5 of the Income Tax Act 1961 (the Act) practically all of a resident assessee’s world income enters his total income.

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