News
The Trademark & Corporate name conundrum
21 March 2017
Before the Full Bench of High Court of Bombay, in the case of Cipla Limited v. M/s Cipla Industries Pvt. Ltd.
Bolar exemption permits exports of patented invention
21 March 2017
By Judgment & order dated March 08, 2017, a Single Judge of the Delhi High Court interpreted the exemption to infringement under Section 107A of the Patents Act, 1970 (Act) to hold that said exemption permits exports from India of a patented invention solely for uses reasonably related to the development and submission of information required under any law for the time being in force, in India or in a country other than India, that regulates the manufacture, construction, use, sale or import of
Goods used in process of service are integral to execution of service contract
21 March 2017
The issue before the Division Bench of the Delhi High Court was whether chemicals/ solvents used in the process of cleaning amounts to transfer of property in goods between the contractor and the contractee and thus exigible to tax.
Voice Tab classifiable as telephone
21 March 2017
The issue for consideration was whether a Voice Tab named by the assessee as ‘HP Slate 6” Voice Tab’ is classifiable under CTH 8471 as an automatic data processing machine or under CTH 8517 as telephone for cellular network.
Franchise service - Whether right conferred is a representational right, to be established
21 March 2017
Delhi High Court has held that merely because by an agreement, a right is conferred on a party to sell or manufacture goods or provide services or undertake a process, it would not ipso facto bring the agreement within the ambit of a franchise.
‘Manufacture’ under Central Excise law
21 March 2017
Customs, Excise and Service Tax Appellate Tribunal (CESTAT) recently delivered few decisions on one of the oldest questions in Central Excise law – whether a process amounts to ‘manufacture’.
Development Authority is not “local authority” – Income not exempt
09 March 2017
In a recent judgment, Delhi High Court has held that bi-annual or annual payments, being capital payments for a limited/specific period towards acquisition of lease hold rights, are not subject to TDS.
Voluntary liquidation process - Draft Regulations issued
07 March 2017
On February 14, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has published draft Regulations applicable to the voluntary liquidation of corporate persons under Part II of the Insolvency and Bankruptcy Code, 2016 (IBC).
Integrated Reporting by listed entities
07 March 2017
Currently, SEBI mandates the top 500 listed entities in India (based on market capitalization calculated as on March 31 of every financial year) to prepare a business responsibility report describing initiatives taken from an environmental, social and governance perspective (in accordance with Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015).
Breach of promise of ‘assured returns’ when not Financial Debt
07 March 2017
A forward contract to sell product at the end of a specified period - such as a contract for sale/purchase of property will be treated as a contract for sale of specified goods.