News
Corporate insolvency proceedings can be initiated for dishonour of post-dated cheques
08 June 2017
Issuance of post-dated cheques to any person will amount to acknowledgement of legally enforceable liability;
Reimbursement of salary not FTS under India-UK DTAA
30 May 2017
The assessee paid a sum towards salary expenditure to employees deputed for providing assistance in management, setting up of business and so on.
Draft ICDS in respect of real-estate transaction
30 May 2017
In exercise of powers conferred in section 145(2) of Income-tax Act, 1961, Central Government had notified Income Computation and Disclosure Standards (‘ICDS’) vide Notification No. 87/2016 dated 29th September 2016.
Trademark infringement – Similarity of marks to be considered first
26 May 2017
Observing that the marks FERANTA and INTAS’ FERINTAS are sufficiently distinguishable and does not satisfy Section 29(2)(b) of the Trade Marks Act, a Single Judge of the Bombay High Court has refused to grant an interim injunction in favour of the Plaintiffs in a trademark infringement and passing off suit.
Trademarks – German origin word which is not indicative of business, is not generic
26 May 2017
Taking note of the fact that plaintiff had acquired a distinctive reputation and goodwill of its own under the trade names “ASIAN HAUS” and “SUSHI HAUS” for its food delivery outlets, Delhi High Court has restrained the defendants by an interim injunction from using the name “HAUS” for latter’s food delivery outlets in the name of “Curry Haus”.
Patents – Correction under Section 78
26 May 2017
Delhi High Court has set aside the ‘deemed to be withdrawn’ status of a patent application and restored the Indian National Phase application.
Vacation of interim injunction on basis of non-binding undertaking, not correct
26 May 2017
A Division Bench of the Delhi High Court on 12 April 2017 has set aside the decision of the Single Judge Bench wherein the latter had vacated the earlier ex-parte interim injunction granted in favour of the Plaintiffs in a designs infringement case.
ITC on goods used in construction of silos, available
25 May 2017
Allahabad High Court has upheld the view of the Tribunal that input tax credit on MS Sheets utilized for construction of silo is available.
Valuation – Rejection of value when not sustainable
25 May 2017
Finding the reasons such as the importer had used the name of another firm to avoid sales tax, imports were made from trader and not from manufacturer, and the value declared was even less than the value of steel scrap, as not relatable to value of goods, CESTAT Delhi has allowed the appeal of the importer.
GST rates and 7 Rules approved by GST Council
25 May 2017
Schedule containing rates of GST for both goods and services and the revised draft of 7 procedural GST Rules have been placed by the CBEC in public domain.