articles
Corporate Advisory, Insolvency
Winding Up – Legal position under Companies Act, 2013 vis-à-vis Insolvency and Bankruptcy Code, 2016
03 March 2017
Prior to November 15, 2016, the term “winding-up” was neither defined under the Companies Act, 1956 (“1956 Act”) nor under the Companies Act, 2013 (“2013 Act”).
Direct Tax
Transfer of title without registration - Finance Bill 2017 addresses the dilemma
22 February 2017
The Supreme Court in the case of Shoorji Vallabhdas reported in [1962] 46 ITR 144 (SC) held that “No doubt, the Income-tax Act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or its receipt; but the substance of the matter is the i
Intellectual Property Rights
Trademarks - Well-known mark associated solely with the proprietor
22 February 2017
In December, the Delhi High Court granted permanent injunction in favour of Mother Dairy (the Plaintiff) in Mother Dairy Fruit and Vegetable versus S.K. Rahee.
Preparing for transition to GST
20 February 2017
GST being the largest indirect tax reform in Indian tax history is on the verge of implementation. Every business, small or big, will get impacted by GST.
International Trade & WTO
Implications of facilitating trade — India and the Trade Facilitation Agreement
10 February 2017
The Trade Facilitation Agreement (TFA) negotiations were concluded in 2013, and the Agreement is set to come into force, in terms of Article X:3 of the Marrakesh Agreement, upon domestic ratification by two-thirds of the WTO membership, i.e., by 110 members. Nepal recently became the 108th member t
Regulatory Laws
Stamp Duty issues in slump sale transactions
06 February 2017
Slump sale is a commonly used method of business acquisition wherein an undertaking as a “going concern”is transferred from one entity to another. The term ‘slump sale’ incorporated under the Income Tax Act, 1961 [See End Note 1] (“IT Act”) has been defined to constitute the following elements:
Intellectual Property Rights
World famous or not-Trans-border reputation in trade marks
24 January 2017
Trans-border reputation as the name suggest means reputation that has spilled over to other jurisdictions wherein there is neither use of the trade mark in question nor the trade mark registered.
Direct Tax
TDS on sea freight – Good times for time charter ?
23 January 2017
Computation of income of non-resident shipping entities posed many challenges and to ease the same Section 44B was enacted vide Finance Act, 1975 w.e.f. 1 April 1976.
International Trade & WTO
EU-Biodiesel: “Input Costs” in Constructed Normal Value
16 January 2017
The WTO Appellate Body (AB) has recently delivered the final word on construction of normal value. In European Union - Anti-Dumping Measures on Biodiesel from Argentina (DS 473) [see end note 1]
Inter-State supplies under Model IGST Law – Treatment of FOR & Ex-works supplies
13 January 2017
One of the many disputes that have continued to exist in the present regime of taxation of sale of goods are the disputes pertaining to determination of the nature of transaction as inter-State sale subject to Central Sales Tax or local sale subject to VAT.
Challenges in availment of Input Tax Credit under GST
13 January 2017
The Revised Model GST Law (hence forth "RMGL") was made available in public domain in November, 2016. The commitment of the government is to roll out a simplified and easier indirect tax regime, yet the provisions reveal a different picture.
Corporate Advisory, Mergers & Acquisitions / PE
Mergers & Acquisitions provisions notified in Companies Act
03 January 2017
The Companies Act, 2013 (Companies Act) is one of the landmark legislations enacted in recent years to bring forth transparency, ease of doing business and protecting rights of minority shareholders. The Companies Act was, in many ways,
Regulatory Laws
Benami Transactions (Prohibition) Act - A Study in Comparison
02 January 2017
In a further crackdown on the parallel economy that has affected the Indian economy adversely, the Central Board for Direct Taxes (CBDT) on November 1, 2016 has notified the Benami Transactions (Prohibition) Amendment Act, 2016 (Amendment Act).
Customs, Direct Tax
Customs valuation and transfer pricing – different valuations for the same transaction ?
27 December 2016
Globalization has brought along with it various taxation issues, the most talked about being, transfer price of goods being traded amongst enterprises forming part of a same business group (‘related entities’).
Intellectual Property Rights
Secrecy directions in designs
22 December 2016
Most of us are familiar with provisions in Patents Law related to secrecy directions [see end note 1] on inventions relevant for defence purposes and the security of India; however, similar secrecy directions are also provided under the Designs Law [see end note 2].
Anti-Profiteering measure and price control mechanism under GST
20 December 2016
The revised model Goods and Services Tax (GST) law has been released by the Government, taking into consideration various representations received from the stake-holders.
International Trade & WTO
Treatment of China in Anti-dumping investigation after 11 December 2016 – The EU proposal
12 December 2016
On 11 December 2016, specific provisions of Section 15 of the Protocol of Accession of China to the WTO will expire.
Mergers & Acquisitions / PE, Regulatory Laws
Stamp duty payable on scheme of Amalgamation
06 December 2016
A recent Bombay High Court judgement [ see end note 1] sparked a debate amidst corporate lawyers on the issue of stamp duty payable on the order sanctioning the scheme of amalgamation where the transferor and transferee companies have registered offices in two different States in India.
Direct Tax
Implication of amalgamation on assessment proceedings
22 November 2016
A company is a juristic personality which not only comes into existence by operation of law but its cessation also takes place by operation of law.