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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

The Income Declaration Scheme, 2016 - An analysis

April 18 2016

Last year, the Indian Government introduced a scheme for voluntary declaration of undisclosed foreign income and assets for resident taxpayers under the Black Money Act.

Customs

‘Ease of doing business’ – A look at certain key Customs rulings

April 12 2016

‘Ease of doing business’ is the buzz-word at present and with the Indian Union Cabinet going ahead with the WTO’s Trade Facilitation Agreement, it seems that conditions for doing business in India are bound to improve with significant cut in number of forms, declarations and permissions.

Refund – No recovery through SCN without review of refund order

April 12 2016

The Madras High Court in the case of Eveready Industries India Ltd. v. CESTAT, Chennai [2016-TIOL-676-Mad-CX] has held that refund granted by an authority cannot be denied by way of issuance of Show Cause Notice (SCN) in cases where the order has not been subject to review.

International Trade & WTO

Monitoring of steel imports in USA – Consistency under WTO Laws

April 05 2016

The United States maintains a licensing mechanism known as the Steel Import Monitoring and Analysis (hereinafter referred to as the ‘SIMA’) System. As per the system, any business importing steel mill products covered under the licensing program is required to procure a license.

Direct Tax

Underreporting and misreporting of income - Proposed penalty regime

March 23 2016

With the Finance Bill 2016, the penalty regime in income-tax law is proposed to undergo a major overhaul. Earlier system provided for a levy of penalty, for concealment of income or furnishing inaccurate particulars of income, of an amount between 100% to 300% of the tax sought to be evaded.

Union Budget, 2016 – An analysis of certain changes in Central Excise

March 19 2016

The last two Budgets were witness to the Government trying to put a quietus to the storm generated over retrospective taxation and to increase tax compliance through certain amendments to law and procedures.

TN VAT Act – A look at the recent amendments

March 19 2016

The Government of Tamil Nadu has brought out certain amendments to the Tamil Nadu Value Added Tax Act 2006 (‘the Act’) and the Tamil Nadu Value Added Tax Rules, 2007 (‘the Rules’), with effect from 29th January, 2016 [see end note 1].

Intellectual Property Rights

Stay of proceedings in an infringement suit and challenging validity of a registered trademark

March 17 2016

A Full bench (Three Judges) of the Delhi High Court recently held that prior permission of the Court is not necessary under Section 124(1)(b)(ii) of the Trade Marks Act, 1999 (TMA) for filing a rectification petition before the IPAB during the pendency of an infringement suit.

Regulatory Laws

Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 – A Comment

March 17 2016

The justice delivery system of our country can be excruciatingly slow. In commercial disputes, time is of the essence and delays can derail the entire remedy and relief and undermines business confidence in Indians as well as those interested in investing in India. 

International Trade & WTO

RTI Act & disclosure of information in anti-dumping investigations

March 11 2016

Access to information is a cornerstone in any administrative or quasi-judicial proceeding and non-availability of the relied upon documents to the affected parties have been condemned for long by the highest Court of this country.

Direct Tax

Artificial computation provisions – Unintended cross roads with anti-avoidance rules

February 27 2016

In the law of Income-tax, the main principles are fairly simple – the whole difficulty arise in their application.  The first question, what is income, is a dark cat in the bag of the income-tax code [See End Note 1]. 

Regulatory Laws

Conciliation for settling family disputes

February 27 2016

Globally, alternative dispute resolution is slowly, but steadily becoming the preferred mode for settling disputes. Many corporates including large business conglomerates are seriously evaluating the merits of  mediation and conciliatory procedures to avoid lengthy,

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