News
Corporate tax cut - Taxation Laws (Amendment) Bill, 2019 passed by Lok Sabha
04 December 2019
Taxation Laws (Amendment) Bill, 2019 which seeks to amend the Income Tax Act, 1961 to incorporate the changes relating to reduction of corporate tax rates for domestic companies and new companies, has been passed by the Lok Sabha (lower house of the Indian Parliament) on 2nd of December. The Bill was introduced on 25-11-2019.
Arbitration – No automatic stay on challenge to arbitral award – SC strikes down Section 87
03 December 2019
Larger Bench of the Supreme Court has struck down the deletion of Section 26 of the 2015 Arbitration Amendment Act, together with the insertion of Section 87 into the Arbitration and Conciliation Act, 1996 by the 2019 Amendment Act, as being manifestly arbitrary under Article 14 of the Constitution of India. Section 87 provided that unless the parties agreed otherwise, the 2015 Amendments would apply prospectively to all arbitral and court proceedings.
CCI revises fees – Other amendments also made in CCI (General) Regulations
26 November 2019
The Competition Commission of India has revised the fees payable by any person, consumer or their association or trade associations while giving information in respect of anti-competitive agreements and abuse of dominant position, for alleged violation of provisions of the Competition Act.
No demand under Cenvat Rule 6 on electricity generated from bagasse
25 November 2019
Relying upon Supreme Court decision in the case of DSCL Sugar Ltd., the Delhi High Court has held that since bagasse is non-marketable, sale of electricity generated entirely from such non-excisable bagasse, will not attract demand under Rule 6(3)(i) of the Cenvat Credit Rules, 2004.
Injunction against MAKEMYTRAVEL - Correspondence with lowest rung executive is not acquiescence
18 November 2019
In a dispute involving MAKEMYTRIP and MAKEMYTRAVEL, the Delhi High Court has made absolute the interim injunction granted earlier by it against use of the trade mark/trade name 'Make My Travel' (word per se), MMT (letter mark) and the tag line 'Dreams Unlimited', the MakeMyTravel Logo and their website.
Patents and Designs – Application and other fees sought to be reduced for small entities
31 October 2019
The Department of Promotion of Industry and Internal Trade in the Indian Ministry of Commerce and Industry has on 18th of October notified the draft Patents (2nd Amendment) Rules, 2019 and the draft Designs (Amendment) Rules, 2019.
Competition – DG’s report finding contravention of provisions is not binding on CCI
30 October 2019
The Delhi High Court has rejected the contention that if the report of the Director General (DG) recommends that there are contraventions of provisions of Competion Act, the Competition Commission of India (CCI) cannot close the case straightway. It observed that there is no provision in the Competition Act which mandates that the CCI must accept the report of the DG recommending that there are contraventions of the provisions of the Act.
Blocking of access to specific information – When can Indian Court grant global injunctions
30 October 2019
In a case involving publication of defamatory videos and other contents in social media, the Single Judge Bench of Delhi High Court has held that disabling and blocking of access, in respect of such information uploaded from India, must be from the computer resource, and such resource includes a computer network, i.e., the whole network and not a mere (geographically) limited network.
Manufacture and other operations in warehouse under Customs s.65 clarified
04 October 2019
CBIC has issued Circular No. 34/2019-Cus. and the Manufacture and Other Operations in Warehouse (No. 2) Regulations, 2019 to cover the procedures and documentation for units operating under Section 65 of the Customs Act, 1962 in a comprehensive manner, including application for seeking permission under Section 65, provision of execution of the bond by the licensee, receipt, storage and removal of goods, maintenance of accounts, conduct of audit etc.
Manufacture and other operations in warehouse under Customs s.65 clarified
04 October 2019
4th October, 2019 CBIC has issued Circular No. 34/2019-Cus. and the Manufacture and Other Operations in Warehouse (No. 2) Regulations, 2019 to cover the procedures and documentation for units operating under Section 65 of the Customs Act, 1962 in a comprehen