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Articles

Our attorneys and specialists remain up-to-date with the latest legal developments and offer their perspectives and critical commentary.

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Direct Tax

Inventory valuation caught in the web of ICDS, IndAS and settled jurisprudence!

26 September 2017

Valuation of inventory is not supposed to give rise to any income and therefore the same should be at lower of cost or market value, as held Apex Court in a landmark decision [see End Note 1]. 

Intellectual Property Rights

Groundless infringement threats

26 September 2017

Intellectual Property (IP) rights ensure that innovation is rewarded and encouraged. In recent times, there has been a proliferation of the IP rights, and a single product may be protected by a multitude of ways, such as patents, trademarks, and design rights.

Classification of leasing services – An expanding quandary

22 September 2017

After a long wait we have finally voyaged into the Goods and Services Tax regime, and are experiencing many teething problems.

Regulatory Laws

Code on Wages, 2017 – An Analysis

04 September 2017

The labour law domain in India is a reaffirmation of India’s colonial past and industrial revolution. While current labour legislations have been significantly tailored to suit the unique conditions of the Indian industry and labour force,

International Trade & WTO

Final Findings in anti-circumvention investigation concerning Cold Rolled Flat Products of Stainless Steel – An analysis

30 August 2017

Final anti-dumping duty was imposed on cold rolled flat products of stainless steel of width between 600mm to 1250mm with certain exclusions.

Understanding composite supply under GST

30 August 2017

India embarked on its tryst with Goods and Services Tax (“GST”) on 1st July, 2017. In this regard, the Union Parliament and the State Legislatures have enacted various laws for the levy and collection of GST (hereinafter collectively known as “GST Acts”).

Direct Tax

Limitation of Benefits clause in the India Singapore DTAA - An analysis of recent decisions

17 August 2017

The Mumbai Bench of the Income Tax Appellate Tribunal had occasion to examine the India Singapore Double Taxation treaty in a recent judgment in the case of Citicorp Investment Bank (Singapore) Ltd v. Deputy Commissioner of Income Tax (International Taxation) Mumbai.

Intellectual Property Rights

Patent refusal for Enzalutamide: An overview

17 August 2017

Enzalutamide, marketed by the name ‘Xtandi’, is a prescription medicine for treating men with metastatic castration-resistant prostate cancer.

Mergers & Acquisitions / PE

Mega merger in insurance on hold – A closer look

02 August 2017

The complexity surrounding transactions in relation to mergers and acquisitions can never be underscored. Such transactions undergo a prodigious milieu, which involves discussions, proposals, negotiations and most importantly, regulatory approvals.

Authority for Advance Rulings under GST

28 July 2017

In his Budget Speech of 1992-93, the then Finance Minister had assured that, in the interest of avoiding needless litigation and promoting better taxpayer relations in a scheme for giving advance rulings in respect of transactions involving non-residents was being worked out and would be put into op

International Trade & WTO

Compliance with recommendations and rulings of the DSB by the EU in trade remedy cases

19 July 2017

Article 19.1 of the WTO Dispute Settlement Understanding (DSU) provides that where a panel or the Appellate Body concludes that a measure is inconsistent with a covered agreement, it shall recommend that the Member concerned bring the measure into conformity with that agreement.

Direct Tax

Taxation of foreign companies regarded as ‘resident’ in India

17 July 2017

Tax liability under the Income-tax Act, 1961 (‘the Act’) of any person is determined based upon his residential status.

Intellectual Property Rights

Guidelines for patentability of computer related inventions – Is this the final chapter?

10 July 2017

The Patent Office has released another revised version of Guidelines for Examination of Computer Related Inventions (CRIs).

Insolvency

Disputing a dispute under Insolvency and Bankruptcy Code, 2016

05 July 2017

Disputing a dispute under Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) was enacted on May 28, 2016 with an aim to inter alia address and resolve these issues in addition to providing for the mechanism for resolution of insolvency

GST - Old order changeth yielding place to new

27 June 2017

As I sit down to type this article with the famed saying of Alfred Tennyson, despite the hectic schedule of GST assistance to  the industry, both types of feelings gush – on the one side sadness creeps as the Central Excise as we know and we grew up with is going to be part of history .

International Trade & WTO

India-EU free trade agreement: State of play and way forward

20 June 2017

India and the European Union (EU) have been negotiating a bilateral free trade agreement known as the Broad-based Trade and Investment Agreement (BTIA) since 2007.

Direct Tax

Business expenses of pharma companies – A regulatory hurdle

16 June 2017

Pharmaceutical companies incur huge expenses in launching and promoting their products by way of gifts to medical professionals, holding conferences and distribution of promotional material.

Intellectual Property Rights

Virtual patent marking and deemed notice

13 June 2017

One of the defences available to a defendant in a patent infringement suit for avoiding damages, is that he/she was unaware of the existence of the patent(s) alleged to be infringed.

Mergers & Acquisitions / PE, Securities Laws

Recent Rulings on ‘Offer Period’ under Takeover Regulations

01 June 2017

Public offers in relation to acquisition of shares and takeover of public companies in India is governed by a self-contained code enshrined in the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (‘2011 Regulations’),

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