articles
Refund – No recovery through SCN without review of refund order
12 April 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
05 April 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
23 March 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
19 March 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
19 March 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
17 March 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
17 March 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
11 March 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
27 February 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
27 February 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,
Intellectual Property Rights
Obviousness - Different standards for Opposition and Revocation?
22 February 2016
Patents are not just instruments of private commercial utilisation but also have an impact on public policy. They are thus, governed by a system which allows for challenge to the validity of a patent at different stages.
Determining character of ‘manufacture’
19 February 2016
Budget 2016 is just around the corner and despite the fact that the ‘seamless’ tax regime of GST passes through political rough weather, the government is intent on implementing it from next fiscal.
Regulatory Laws
Start-up India plan: accelerating start-up movement
09 February 2016
The Start-up India initiative of the Government of India (“GOI”) was announced on January 16, 2016 with the aim to empower start-ups to grow through innovation and design. This initiative strives to build a strong eco-system for nurturing innovation and start-ups
International Trade & WTO
Market economy status to China – Debate continues
08 February 2016
The EU Commission recently held a debate on the sensitive issue of granting ‘market economy status’ to China. Considering China’s Accession Protocol, it may be noted that the final decision will have to be made by the European Parliament and EU Member States later this year.
Intellectual Property Rights
The curious case of patent infringement CTR v. Sergi
28 January 2016
This case pertains to a suit filed by CTR Manufacturing Industries Limited against Sergi Transformer Explosion Prevention Technologies Pvt. Ltd.
Direct Tax
Draft guidelines for determination of PoEM - A incongruous note to an intended harmonious provision?
22 January 2016
Section 6(3) of the Income Tax Act, 1961 (‘Act’) has been amended vide Finance Act, 2015 to introduce the concept of Place of Effective Management (‘PoEM’) to determine residential status of companies. Memorandum to Finance Bill, 2015 provided that the amendment has been brought to align the provisi
Regulatory Laws
Wishlist 2016 for Real Estate Sector in India
22 January 2016
Agricultural land in the rural areas and real estate in cities has always been a stable rock for economies and investors since time immemorial across the world. Warren Buffet in his annual letter to shareholders about investing in real estate in 2014 said “Whatever the chatter,
‘Place of removal’ – The debate continues
20 January 2016
Central Excise law, after six decades of its existence, is expected to yield its place to the Goods & Service Tax (GST) shortly but it continues to evolve even today.
International Trade & WTO
Initiation of investigation: Issue of cumulation
11 January 2016
Article 5 of WTO:ADA provides for initiation and subsequent investigation. Clause (ii) of Article 5.2 provides that the application shall contain the information relating to the names of the country or countries of origin or export in question