articles
Direct Tax
The Government Giveth and the Government Taketh Away: Charitable Institutions satisfied but facing accounting complexities
20 June 2022
The year 2022 has witnessed major changes in exemption regimes available to charitable institutions under the Income-tax Act, 1961 (‘IT Act’). Through these changes, while the Government has seemingly decayed one issue faced by charitable institutions, it has also given birth to a new one. The following paragraphs will discuss both these issues and analyze the Jekyll and Hyde nature of the amendments of 2022.
Intellectual Property
Scope of remand in pre-grant oppositions
16 June 2022
The present article deals with a noteworthy decision of the Indian Patents Office (‘IPO’) on the pre-grant opposition under Section 25(1) of the Patents Act, 1970 (‘Patents Act’). The said order was issued pursuant to the Delhi High Court (‘High Court’) remanding the matter to the Assistant Controller of Patents & Design (‘Controller’).
Regulatory
Amendment to Intermediaries Guidelines
15 June 2022
Recently, the Ministry of Electronics & Information Technology (‘MEITY’) released a draft amendment (‘Draft Amendment’) to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (‘Guidelines’) for public consultations. The Draft Amendment proposes to bring about certain changes to the grievance redressal mechanism, timelines for responding to grievances and proposes constitution...
International Trade & WTO
India and its recent comprehensive trade agreements – Attempting success for market access
31 May 2022
In November 2019, the Government of India (‘GOI’) surprised the international trading community by withdrawing from the negotiations for the Regional Comprehensive and Economic Partnership Agreement (RCEP), which it had been part of for several years.
Goods and Services Tax
Interest on delayed payment of tax – The saga continues!
25 May 2022
This article concerns Section 50 of the Central Goods and Services Tax Act, 2017 (‘CGST Act’). Much has been said and done about whether interest is liable to be paid on the gross tax liability in case of delayed payment of taxes.
Corporate
ESG – A sustainable model for a better future
20 May 2022
Securities Market Regulator, SEBI, on 5 May 2021, made it mandatory for the top 1,000 listed entities (by market capitalization calculated as on the 31st day of March of every financial year) to provide annually a Business Responsibility and Sustainability Report (BRSR) from the financial year 2022-23.
Direct Tax
Apex Laboratories: A bitter pill to swallow for the healthcare sector?
18 May 2022
A contentious issue that has seen much litigation in the recent past is regarding the claim of expenditure under Section 37 of the Income-tax Act, 1961 (‘IT Act’) incurred by pharmaceutical companies on gifting of freebies to doctors.
Intellectual Property
Copyright authorship to artificial intelligence: Who owns it?
17 May 2022
On 14 February 2022, the Review Board of the United States Copyright Office (‘Board’) opined on the registrability of works generated by Artificial Intelligence (‘AI’), a topic which has been deliberated by scholars and professionals in the field of intellectual property law since the advent of autonomous technology.
Intellectual Property
Domain Name Registrars and their role in domain name infringement suits
16 May 2022
The article analyses a recent decision of the Delhi High Court wherein the Court refused to grant the prayer seeking issuance of an omnibus order restraining the Defendants from offering domain names containing the word ‘SNAPDEAL’. Yet, the Court held that the Defendants will not be granted the ‘safe harbour’ protection under Section 79 of the Information Technology Act, 2000 if they continue to provide alternate domain names, for commercial profits, which infringe the registered trademarks.
Regulatory
Analyzing the new CERT-IN Directions: Wider gamut than breach reporting
09 May 2022
The CERT-IN has released a set of Directions dated April 28, 2022 under the Information Technology Act (“Directions”) which relate to reporting of cyber security incidents and adopting additional measures towards protection of the IT and internet ecosystem in India. The article discusses the directions, enhanced obligations and new obligations introduced under the Directions for virtual private networks, virtual private servers and virtual asset providers…
Demystifying SPACs Is the time ripe for Indian companies to list on overseas bourses?
03 May 2022
Goldman Sachs backed Renew Power - one of India’s largest renewable energy companies, finally announced overseas listing through SPAC after long drawn discussions on raising funds through asset sale or listing through an IPO in India.
International Trade & WTO
Particular Market Situation in anti-dumping cases: A tool to address distortions
28 April 2022
Particular Market Situation is a situation existing in the market of a product in the exporting country which is ‘particular’ or ‘distinct’ to the product in a manner that it can potentially distort its domestic selling prices and render them unfit for comparison with the export prices. Observing that the law is silent regarding the appropriate approach to determine the existence of a PMS, the article discusses some recent cases wherein the Indian investigating authority undertook a PMS analysis
Intellectual Property
Passing of an interim order during stay on a suit of infringement proceedings
26 April 2022
The article discusses a recent Delhi High Court decision reiterating the principle encapsulated in Section 124 of the Trade Marks Act, 1999 while also clarifying the scope of Section 124(5). The Court confirmed that an interim order can be passed even if the infringement suit has been stayed in view of Section 124. However, the Court stated that in order to analyze whether an interim order can be passed under Section 124(5), it is imperative to look...
Intellectual Property
Dishonest use of a well-known and descriptive trademark amounting to infringement
26 April 2022
The article analyses decision of the Delhi High Court which has held that once the Plaintiff has shown that the use by the Defendants is of the exact word i.e., the registered trademark of the plaintiff, and that the goods or services are identical, the Court will necessarily presume that confusion would arise in the minds of the public or consumers as to the origin of the goods or services and accordingly, an interim injunction would have to be issued. The authors state that even though...
Goods and Services Tax
Discharge of indirect tax liabilities and procedural compliance during intervening period in case of amalgamation/ merger / demerger
25 April 2022
The article discusses at length the significance of ‘appointed date’, ‘effective date’ and various clauses of the scheme of amalgamation/ merger/ demerger in the light of indirect tax laws. Elaborating upon the concepts, the author deliberates on a dispute in respect of those transactions which are undertaken between the appointed date and the effective date/till the fresh registration under indirect tax is obtained by the successor in its own name.
Corporate
SEBI tweaks IPO norms: A cautioned approach
21 April 2022
The Initial Public Offering (‘IPO’) market has been booming ever since the dawn of 2020. As per the latest EY Global IPO Report, the year 2021 has been the best IPO year since the last 20 years.
Direct Tax
Crypto taxation in the Finance Act, 2022: The Indian conundrum
19 April 2022
In November 2021, the government floated the idea that it was going to introduce ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’, to lay down a framework for regulating transactions involving cryptocurrency.
Insolvency
Obligation of vigilance under Insolvency and Bankruptcy Code, 2016
06 April 2022
Vigilantibus, et non dormientibus, jura subveniunt is a noted maxim which means ‘the laws assist those who are vigilant, not those who sleep over their rights ‘ . This is a pertinent principle which applies predominantly while determining if a particular cause of action has been espoused within the limitation period.
Competition and Antitrust
Merger Control in India : A Review of the Year 2021
05 April 2022
Mergers and acquisitions in India reached near an all-time high in the year 2021 after deals worth US $90.4 billion were struck in the first nine months. Of these, a total of 95 combinations were notified to the Competition Commission of India (“CCI”).