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News & Briefings

The latest updates on relevant areas of law, curated by our team to be the most useful to clients as well as fellow legal practitioners.

News

Commissions paid by manufacturer to related exporter - Inclusion in export price

09 July 2015

European Union’s General Court has upheld the downward adjustment to the export price in respect of commissions paid by the manufacturer to its exporter. The applicant-manufacturer here was of the view that they and the exporter (Singaporean entity) formed a single economic entity and that, consequently, there was no need to carry out any downward adjustments in export price to the EU.

Exemption notification – Applicability of Interpretative Rules of Excise Tariff

03 July 2015

Three Judges Bench of the Supreme Court has, on 1-7-2015, held that Rules of Interpretation of the Central Excise Tariff may not be applicable if the notification (exemption notification) commands and require a different understanding.

Share transfers – Pre-emption agreement when does not violate ‘free transferability’

23 June 2015

Division Bench of the Bombay High Court has reversed the Order of the Single Bench holding that the pre-emption right as recognised by certain clause of the Protocol Agreement which was incorporated in the Articles of Association of the company, was contrary to the provisions of the Companies Act and hence was unenforceable.

Electricity supply without a distribution license, when valid

22 June 2015

The Appellate Tribunal for Electricity has upheld the Order of the State Commission wherein the latter has allowed the system for supply of power by the generating company to its individual industrial consumers directly from its dedicated transmission lines considering the load centre as a consumer under Section 10(2), read with Section 42(2) of the Electricity Act 2003, without obtaining any distribution license.

When an interlocked toy is not essentially interlocked

19 June 2015

A toy can be in any shape. Toys have provided enough infotainment from children to pets, to customs lawyers if one recalls the disputes over classification of Halloween costumes and  flying discs for dogs to play with (HQ H240490, Canine Hardware Inc) and of course IP lawyers.

Copyright law does not bar remedy against breach of confidence

19 June 2015

In a suit involving breach of confidence action which also alleged infringement of copyright, the Bombay High Court has granted interim injunction restraining the defendant from releasing the offending film alleged to be based on the script/screenplay of the plaintiff.

Clarification on Rollback provisions of APA

19 June 2015

Advance Pricing Agreement (‘APA’) Scheme was introduced in the statute in 2012, which  authorizes the CBDT to enter into agreement with the taxpayers, prescribing the arm’s length price (ALP) for international transaction which have been undertaken (which are continuous in nature) and those to be entered into between related parties in the future.

EOUs – FTP provisions incorporated in Excise notifications

15 June 2015

Notification Nos. 22/2003-C.E. and 23/2003-C.E. have been amended by Notification No. 28/2015-C.E., dated 15-5-2015 to reflect the new Foreign Trade Policy 2015-20 notified by the Ministry of Commerce on 1st of April.

Transfer Pricing – Applicability to third party transactions

11 June 2015

To come within the ambit of transfer pricing, there has to be an international transaction. The two requirements of international transaction are that there must be a transaction between associated enterprises and either or both parties should be non-residents (prior to the amendment by Finance Act, 2014).

ADD – Inclusion of non-cooperating producers in Domestic industry

08 June 2015

European Union’s Court of Justice has upheld the investigation authority’s conclusion of including non-cooperating domestic manufacturers in the definition of domestic industry for the purpose of injury analysis.

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