News
Budget 2015 – Penalty provisions relaxed in Excise and Customs
01 March 2015
Finance Bill 2015 introduced in the Lok Sabha (Lower House of the Indian Parliament) today on 28-2-2015, has proposed certain relaxations in respect of penalty provisions under Central Excise and Customs Laws.
Budget 2015 - Major changes proposed in Direct Tax
01 March 2015
The Finance Minister presented the Finance Bill, 2015 today. While no major relief has been announced on personal taxation, corporate taxes are proposed to be rationalised in a phased manner to bring down the rate of taxation
Validity of trademark can be questioned in infringement suit
22 January 2015
Court can go into the question of validity of registration of the plaintiff's trade mark at an interlocutory stage when the defendant takes up the defence of invalidity of the said registration in an infringement suit.
No wish to infringe
22 January 2015
The new year witnessed, aptly perhaps, a decision on trademark infringement proceedings which was triggered by exchange of a Christmas card between the general counsels of the opposing parties.
SEZ – Dual use of infrastructure permitted in non-processing area
20 January 2015
Ministry of Commerce and Industry has allowed dual use of non-processing area in the Special Economic Zones with effect from 2-1-2015.
New Insider Trading Regulations notified
20 January 2015
Securities and Exchange Board of India has notified new set of regulations, to put in place a framework for prohibition of insider trading in securities.
Status of secured creditor not alters unless charge explicitly extinguished
20 January 2015
The Supreme Court of India has, on 9-1-2015, held that a charge created under Section 125 of Companies Act, 1956 shall not be extinguished unless the arbitration award does not explicitly say so.
Director’s liability – ‘Alter ego’ and attribution of acts of companies
20 January 2015
The Supreme Court of India has, on 9-1-2015, held that when the company is the offender, vicarious liability of the Directors cannot be imputed automatically, in the absence of any statutory provision to this effect.
Major relief for exporters and importers by CBEC
14 January 2015
Central Board of Excise and Customs has last month given some major relief to Indian exporters and importers in terms of procedures to be followed while making imports and exports.
Sale of used motor vehicles – Exemption under Delhi VAT
14 January 2015
Sale consideration received on resale of used motor vehicle to third parties by dealers of different commodities is not includible in the taxable turnover for attracting liability under Delhi VAT provisions if conditions of Section 6(3) of DVAT Act are satisfied.