articles
Direct Tax
Director’s liability under the Income tax law – An insight
20 May 2019
By Bharathi Krishnaprasad It may be enticing to hold a directorship position in a corporate house. However, should the roofs descend someday, it becomes eq
International Trade & WTO
Consequence of non-participation by India in CVD investigations conducted by USA
20 May 2019
By Bhargav Mansatta Government of the exporting country is an interested party in a countervailing duty investigation. Apart from exporters of the subject product, Government of the exporting country is also required to file response to the question
Goods and Services Tax
ITC reversal on sale of used capital goods
16 May 2019
By Tushar Mittal GST law is moving towards its second anniversary and yet the so called simple tax does not seem to have settled down much. Every other day some new issues also arise which more often leave the
Securities Laws
Issuance of shares with differential voting rights
06 May 2019
By Tanushree Pande Introduction The recent trend in the area of corporate laws has led to the emergence of various investments tools with multiple ways a
Arbitration
Supreme Court restates law vis-à-vis an arbitrator’s power to grant interest
06 May 2019
By Ankit Parhar The Hon'ble Supreme Court has recently restated the law vis-à-vis an Arbitrator’s power to grant interest under the Arbitration and Conciliation Act, 1996 (‘1996 Act&r
Intellectual Property Rights
Dynamic injunction against ‘rogue websites’ in UTV case- Balanced remedy or excessive enforcement?
30 April 2019
By Sudarshan Shekhawat In a judgement [see endnote. 1] delivered on April 10, the Delhi High Court has granted a ‘dynamic’ blocking injunction against certain websites publishing p
Goods and Services Tax
Expenses incurred on CSR - Not so GST friendly?
24 April 2019
By Koushal Sonthalia One of the major advantages under the GST regime is the unlocking of tax credits, a lot of which was not available in the erstwhile Indirect tax regime. While the earlier legis
Direct Tax
Prosecution under Section 276C of Income-tax Act, 1961 – An Overview
24 April 2019
By Ravi Sawana Introduction The mechanism for enforcing tax compliances under the Income-tax Act, 1961 (‘the Act’) is provided by way of three pilla
International Trade & WTO
All is fair in trade and war – Panel Ruling on interpretation of security exceptions in Russia-Traffic in Transit
23 April 2019
By Jayant Raghu Ram Introduction On 05th April 2019, the WTO circulated the Panel report in Russia – Traffic in Transit (DS512), a dispute which was initiated by Ukraine agains
Regulatory Laws
Maximum pensionable salary - SC upholds HC judgment quashing cap thereon
08 April 2019
By Ankit Parhar The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (“EPF Act”) is a social welfare legislation enacted to provide social security to employees in the form of retirement or old age benefits. The EPF
Corporate Advisory
Companies (Significant Beneficial Owners) Amendment Rules, 2019: Significant clarity at last
08 April 2019
By Sudish Sharma, Samad Ali and Anantha Desikan S Introduction The Companies (Significant Beneficial Owners) Rules, 2018 (“SBO Rules”) was notified on June 14, 2018. The SBO Rules endeavor to iden
International Trade & WTO
US withdrawal of GSP benefits for India
27 March 2019
By Bhargav Mansatta Generalised System of Preferences (GSP) means a mechanism by which imports from developing countries are subject to lower tariffs in the importing country. This system has been implemented by the developed countries s
Direct Tax
Dichotomy between Gross and Net amount - Analysis of Vijay Industries Judgment
25 March 2019
By Mahendra Singh Introduction: The Income-tax Act, 1961, under Chapter VI-A, provides for certain special deductions. These special deductions have been subject matter of litigation all along. One such pr
Goods and Services Tax
Burden of unified registrations for EOUs and DTA units
22 March 2019
By Anupama Ravindran This article intends to highlight certain issues with regard to restrictions on refund of integrated tax paid on exports, for multiple business units having a single GST registration. Section 54 of the CGST Act st
Goods and Services Tax
Breaking the credit chain – An avenue to boost revenue?
22 March 2019
By Brijesh Kothary The Goods and Services Tax Council, in its 34th meeting held on 19-3-2019 recommended certain measures to streamline implementation of lower effective rates of GST for real estate sector. In its previous meeting, the GST Council r
Intellectual Property Rights
Trademarks – Use of a generic prefix, how far effective
18 March 2019
By R. Parthasarathy & Abhishek Yadav The question whether a mark is descriptive or invented, has always been a contentious one. The Supreme Court in 1994 dealt with this issue in J.R. Kapoor v. Micronix India. In the
Corporate Advisory, Regulatory Laws
Directors receiving remuneration are employees as per ESI Act
11 March 2019
By Ankit Parhar In Employees' State Insurance Corporation v. Venus Alloy Pvt. Ltd.[See endnote 1], the Supreme Court has held that Directors of a company, who are receiving remuneration, would fall within the definition of a
Corporate Advisory
Relief to disqualified directors under the Companies Act, 2013
11 March 2019
By Tanya Sharma and Anantha Desikan Section 164 of the Companies Act, 2013 (“Companies Act”) deals with the eligibility criteria for appointment of a director in a company and one of the eligibility criteria is that in case a comp
Securities Laws
Banning of Unregulated Deposits Schemes Ordinance, 2019
11 March 2019
By Sudish Sharma and Vishakha Singh Indian economy in the recent times has witnessed a plethora of fraudulent corporate malpractices. The issue of illegal deposit-taking activities has been a concerning one, causing various fi