News
WTO reviews India’s trade policy
08 June 2015
India’s trade policy is under review by the WTO for the sixth time. According to the report by the WTO’s Secretariat, though India continued its efforts to liberalize and facilitate trade, its tariff structure remains complex.
Trans-border reputation of trade mark
22 May 2015
The IPAB has held that mere filing of applications or obtaining certificates of registration for the impugned trade mark from some countries will not be sufficient to establish trans-border reputation.
TRIPS agreement does not create substantive rights – Canada on WTO challenge to plain packaging rules
22 May 2015
Canada submitted its views as third party on the issue of plain packaging measures introduced by Australia as regards tobacco products.
Company Law Tribunal constitutionally valid – SC
22 May 2015
Five Judge Bench of the Supreme Court of India has rejected the challenge to the constitutional validity of setting up of the National Company Law Appellate Tribunal (NCLAT).
Exclusive agreements by e-commerce sites with sellers of goods/services, not anti-competitive
22 May 2015
Considering various factors listed in Section 19(3) of the Competition Act, the Competition Commission of India (CCI) has held that ‘exclusive agreements’ by e-commerce portals with sellers of goods/services, to sell specified goods exclusively on those portals, does not lead to ‘Appreciable Adverse Effect on Competition’ (AAEC).
Relief against third party in Arbitration
22 May 2015
Relying on earlier judgments, the Delhi High Court has on 5-5-2015 held that while considering a petition under Section 9 of the Arbitration and Conciliation Act, the Court is within its right to pass order against third party.
Sale of shares of Indian company by foreign company, outside India – Jurisdiction of CLB
22 May 2015
Madras High Court has set aside the Company Law Board’s order which had held that in a case involving sale of shares of the Indian company by the foreign company,
ITAT can extend stay beyond 365 days
22 May 2015
Does the Income Tax Appellate Tribunal (ITAT) have power to extend stay beyond 365 days? The Delhi High Court in Pepsi Foods Pvt. Ltd v. ACIT, WP(C )1334/2015 decided on 19-5-2015 held that when the delay in disposing of the appeal is not attributable to the assessee, the Tribunal has the power to grant extension of stay beyond 365 days.
Manufacture & excise – Supreme Court lays down guidelines
22 May 2015
Supreme Court of India has recently delivered three important judgments relating to the question as to whether the process followed by the assessee amounts to ‘manufacture’ for the purpose of imposition of Central Excise duty, which is levied in India on manufactured goods.
New Service Tax rate of 14% applicable from 1st June, 2015
22 May 2015
Service Tax levied in India on all services, except a few as listed in the negative list of services, will be applicable at the rate of 14%, instead of 12%, with effect from 1st of June, 2015.