News
LKS acts for Regal Rexnord Corporation
18 June 2024
Lakshmikumaran and Sridharan represented Regal Rexnord Corporation in connection with the Indian leg of a global transaction involving the acquisition of the industrial electric motors and generators business of Regal Rexnord Corporation by WEG S.A across various jurisdictions, including India, the United States of America, Brazil, Australia, New Zealand, Switzerland and Netherlands.
Solar power generation under MOOWR is valid – CBIC Instruction dated 9 July 2022 quashed
20 May 2024
The Delhi High Court has held that the statutory scheme underlying the MOOWR Regulations cannot be construed as seeking to exclude solar power generation in terms of permissions granted under Section 65 of the Customs Act, 1962. According to the Court, neither Section 61 nor Section 65 can be justifiably construed as incorporating an inherent or implied exclusion of solar power generation.
Patents – Method for compressing digital media – Delhi High Court sets aside objections under Section 3(k) relating to computer programme
08 May 2024
The Delhi High Court has directed for grant of a patent titled ‘Reversible 2-Dimensional Pre-/Post-Filtering for Lapped Biorthogonal Transform’, which was related to a digital media (e.g., video and image) processor and the manner in which the processor is programmed for compression of two-dimensional digital media using lapped transforms.
Valuation of exports – Amount paid by foreign buyer to overseas agent of Indian exporter is not includible
06 May 2024
The CESTAT Hyderabad has set aside the Order-in-Original passed by Commissioner of Customs (Preventive) demanding customs duty on export of iron ore fines wherein the overseas buyer had directly paid commission to overseas agent of the Indian exporter.
GST – Penalty under Section 122(1A) can only be imposed on a ‘taxable person’
03 May 2024
The Bombay High Court has set aside the show cause notice invoking the provisions of Section 122(1A) and Section 137 of the CGST Act, 2017 to impose huge penalty and to initiate prosecution against the petitioner, who was an individual and employee (Senior Tax Operations Manager cum Authorised Person) of the company against whom demand was raised.
Access to a bowling alley – Service other than fun/recreation in any part of such facility is not material for coverage under Negative list
01 May 2024
The CESTAT New Delhi has set aside the order which had disallowed the assessee from being covered under the scope of Section 66D(j) of the Finance Act, 1994 (Negative List – Admission to entertainment events or access to amusement facilities), as the assessee provided services other than bowling alley activity also at the centre.
Trademark Registrar has no authority to restrict choice of colours – Applicant has right to choose colours
10 April 2024
The Madras High Court has held that the Registrar of the Trademarks does not have the authority to impose restriction on the choice of the colours.
Strapping together of tyres, tubes and flaps for replacement market, is not ‘deemed manufacture’
22 March 2024
The CESTAT Mumbai has held that strapping together of tyres, tubes and flaps, referred as ‘TTF’, at the premises of logistics service provider, for dispatch to dealers for catering to replacement market for bus/lorry operators, is not ‘manufacture’ under Section 2(f)(iii) of the Central Excise Act, 1944.
Valuation – Notional cost of specification drawings received free of cost by manufacturer from buyer, before letter of intent identifying former as supplier, is not includible
15 March 2024
The CESTAT New Delhi has on 12 March 2024 held that the notional cost of specifications in the form of drawings and designs supplied free of cost by a company to its vendors (component manufacturers) is not includible in the assessable value of parts or components manufactured by such vendors and cleared to the company.
RoDTEP benefit extended to exports by Advance Authorisation holders and by EOU and SEZ units
13 March 2024
The Ministry of Commerce and Industry has extended the benefit of Scheme for Remission of Duties and Taxes on Exported Products (‘RoDTEP’) on exports by Advance Authorisation holders, and by Export Oriented Units and units in Special Economic Zones.