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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

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.

International Trade & WTO

The upcoming WTO Ministerial Conference: What to expect for India

27 November 2017

Every two years the 164 Members of the Word Trade Organization (“WTO”) gather in a Ministerial Conference to give political direction to the world trade body and negotiate new instruments to better regulate international trade.

Banking & Finance, Regulatory Laws

Key changes in 2017 FDI Policy for single brand retail trading sector

02 November 2017

Foreign Direct Investment (“FDI”) upto 100 percent is allowed in single brand retail trade (“SBRT”) sector. FDI upto 49 percent is allowed under the automatic route and FDI in excess of 49 percent requires prior government approval. In addition,

Corporate Advisory

Restriction on number of layers on companies

02 November 2017

The Ministry of Corporate Affairs (MCA) vide Notification S.O. 3086(E), dated September 20, 2017 notified proviso to Section 2(87) of Companies Act, 2013 (Act). The notified clause provides for the definition of ‘Subsidiary company’ and specifies that such classes of holding companies,

Ocean Freight under GST – A Sea Change

30 October 2017

In the landmark decision of Govind Saran Ganga Saran v. Commissioner of Sales Tax [1985 AIR1041].

Supply by an SEZ Unit - Controversy in levy and collection

30 October 2017

The Goods and Services Tax regime has replaced the diverse indirect tax structure existing in the country prior to 1st July 2017, filling the various gaps and failings of the erstwhile system.

Intellectual Property Rights

Kymriah®, a revolutionary drug to induce treatment remission in recalcitrant cancers

27 October 2017

In an unprecedented historic action, the US Food and Drug Administration (FDA) and Oncologic Drugs Advisory Committee (ODAC) unanimously approved CTL019 (tisagenlecleucel) or Kymriah®, an investigational chimeric antigen receptor T cell (CAR-T) therapy.

Direct Tax

‘Interest’ draws interest in tax treaty interpretation

17 October 2017

All corporate houses, big and small around the globe constantly seek in  financial innovation in raising capital and in allocating rights over sharing of profits.

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