articles
Direct Tax
New Foreign Tax Credit Rules – certain grey areas
29 July 2016
Recently, the Central Board of Direct Tax (‘CBDT’) has issued a notification [see end note 1] notifying Rules [see end note 2] for granting of Foreign Tax Credit (‘FTC’) to resident taxpayers on income earned in foreign jurisdiction (hereinafter referred as ‘foreign income’).
Intellectual Property Rights
Light at the end of the tunnel for Computer-Related Inventions?
29 July 2016
In the May edition of IPR Amicus, we commented on the continued ambiguity in the examination of computer-related inventions (CRIs) by the Indian Patent Office [see end note 1].
Insolvency
Corporate Insolvency Procedure – A Comment
27 July 2016
From the Justice Eradi Committee report of 1999 to the Department of Financial Services’ indicator of October 2015, the pendency of winding-up cases in India has been piling up to reach an alarmingly high level of backlog [see end note 1].
GST – Ensuring credit without artificial fetters
26 July 2016
At the time when this article is being written, the air is thick with optimism and hope that Constitutional Amendment Bill on Goods & Services Tax (GST) will be passed by the Rajya Sabha in this monsoon session itself.
International Trade & WTO
Impact of the Brexit on trade
12 July 2016
On 23 June 2016, the United Kingdom (UK) decided by referendum to leave the European Union (EU).
GST – A turning point for India
29 June 2016
India is now poised to launch the next generation reform on the indirect tax front. Fiscal policy experts and economists have confirmed that a comprehensive and broad based consumption tax on supply of goods and services, collected at each stage of value added within the supply chain, is the best m
Regulatory Laws
Alternative Remedy for Imported Coal Price Escalation
29 June 2016
Of all the available sources of power generation like coal, nuclear, hydro, natural gas, and the renewable energy sources like solar, wind etc., coal continues to be the major and cost effective source of power generation in India,
Direct Tax
Electronic transfers into an NRE account – Income received in India?
27 June 2016
A brief critique of the judgement of Kolkata bench of the Income Tax Appellate Tribunal in the case of Tapas Kumar Bandopadhay vs DDIT [2016]70 taxmann.com50(Kolkat-Trib)
Intellectual Property Rights
A Practical Approach to Fulfilling Section 8 Requirements
21 June 2016
Section 8 of the Indian Patents Act, 1970 mandates applicant(s) filing an application for a patent in India to furnish information pertaining to applications for a patent for ‘the same or substantially the same invention’ filed in any country outside India.
International Trade & WTO
EU trade defence instruments at a deadlock?
07 June 2016
The recent developments in the global steel crisis and the distinct features of the European Union (hereinafter the ‘EU’) have underlined the challenges currently faced by the EU trade policy.
Mergers & Acquisitions / PE
Amalgamation – Distinction between an instrument and instrument amounting to conveyance
31 May 2016
In its recent judgment in Chief Controlling Revenue Authority v. Reliance Industries Ltd., Bombay High Court has taken the view that stamp duty is payable on a High Court (‘HC’) order sanctioning a scheme of merger/reconstruction (‘scheme’), as an instrument of ‘conveyance’.
Direct Tax
India-Mauritius Treaty – The long awaited overhaul and its underlying consequences
26 May 2016
The Double Taxation Avoidance Agreement (‘DTAA’) entered into by India with Mauritius on 24th August, 1982 and made effective from 1st April, 1983 was the first of its kind wherein the right to tax the capital gains arising to a resident of Mauritius from transfer of shares of an Indian company was
Intellectual Property Rights
Ambiguous standard for examination of CRIs
19 May 2016
The Indian Patent Office had issued the modified guidelines for examination of Computer Related Invention (CRI) [see end note 1] on 19 Feb 2016.
Demand of interest due to price revision – An analysis
16 May 2016
The present-day commercial landscape involves a variety of transactions which are structured in various manners.
International Trade & WTO
China: NME or ME?
10 May 2016
Recent WTO discussions have centered on the question of China’s entitlement to Market Economy status (MES) post 11 December, 2016.
Securities Laws
SEBI’s Bright Line Tests for ‘Control’ - An Analysis
26 April 2016
The idea of corporate control has been subject to a longstanding debate in India and elsewhere. A fluid concept such as ‘control’ is a term of wide connotation and, by its very nature, is not amenable to any precise standard definition of general application.
Intellectual Property Rights
Product by process claims - A perspective
20 April 2016
<em>By</em> <strong>Sribindhu Chivukala & Archana V</strong><br /> <br /> <strong><em>Introduction</em></strong><br /> <br /> Section 2(j) of the Patents Act, 1970 (the Act) defines an invention as a new product or a process involving an inventive step and capable of industrial application
Direct Tax
The Income Declaration Scheme, 2016 - An analysis
18 April 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
12 April 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.