Articles

Customs, DGFT and Section 28AAA: A clarification that creates confusion

The article discusses recent CBIC Instruction No. 17/2026-Cus., which permits Customs adjudication under Section 28AAA in certain circumstances without prior DGFT invalidation of licences or scrips.

Rohan Muralidharan+104 Nov 2026

Customs All Industries

Judicial clarity on interest deferment under MOOWR: A review of Rajasthan HC decision in Commissioner v. Acme Aklera Power Technology

The article examines the Rajasthan High Court’s recent decision on interest demands for unused goods imported under MOOWR and cleared ‘as such’. It explains that Section 61(2) of the Customs Act, 1962 applies only to goods under Section 61(1)(c), not qualifying manufacturing goods under clauses (a) and (b).

Ratan Jain+104 Nov 2026

Securities Law All Industries

Manager’s/Sponsor’s obligation to maintain minimum continuing interest – Obstacles to compliance with SEBI’s requirements

In the months of July, August and October, SEBI passed a few settlement orders with respect to alleged violations of SEBI regulations relating to the obligation of the Manager or the Sponsor of the AIF. The article reviews one of such settlement orders passed by SEBI and discusses the various obstacles faced by AIFs and their Managers and Sponsors in complying with SEBI’s regulations for a minimum commitment by the Sponsor or the Manager of an AIF.

Vinod Joseph+330 Oct 2026

General Corporate All Industries

IFSCA imposes certification requirements to enhance cyber security

The article discusses the IFSCA circular which was issued on 27 October 2026 to impose certification requirements to strengthen cyber security framework. These guidelines require boards and senior management to have adequate cyber risk knowledge and mandated regular employee training.

Vinod Joseph+230 Oct 2026

General Corporate Financial Services

SEZ Rules amended to ease regulatory burden for funds in GIFT-IFSC

The article discusses the Special Economic Zones (Fourth Amendment) Rules, 2026 which has been notified by Ministry of Commerce and Industry to ease regulatory burden of funds. The changes made by the Amendment Rules are relevant for funds and Fund Management Entities (‘FME’) established in an International Financial Services Centre (‘IFSC’).

Vinod Joseph+127 Oct 2026

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Customs All Industries
India’s vision for global dominance – Incentivising domestic manufacturing and export promotion
The article discusses the key takeaways of the Union Budget 2025 in relation to the Government’s ‘Make in India’ initiative. The Government has sought to further strengthen and boost domestic manufacturing in India and promote export and employment in key sectors like textiles, shipment, toys, electronic vehicles and leather.
Asish Philip Abraham+521 Feb 2025
Customs All Industries
Unveiling the right to challenge assessments: Is consent the end?
The article discusses the recent decision of the Delhi High Court in Niraj Silk Mills which has (re)triggered the debate over the significance of ‘consent’ given at the time of assessment of bill of entry or shipping bill, be it regarding rate of duty / valuation / classification. It focuses on the critical aspect of whether an assessee can challenge an assessment even after giving consent / acceptance in writing.
Akhilesh Kangsia+221 Feb 2025
Intellectual Property All Industries+4
The battle of the ZEOs: Mahindra’s trademark gets the green light
The Single Judge of the Delhi High Court has rejected claims of trademark infringement and refused a plea seeking to restrain Mahindra Last Mile Mobility Ltd. from selling its electric vehicle under the trademark ‘eZEO’. The dispute was over the trademarks ‘EZIO’ and ‘eZEO’ and highlights the importance of the test of passing off, brand identity, first in the market advantage and weight of established reputation.
Kriti Sood+120 Feb 2025
Commercial Litigation All Industries
Principle of Comity: Answer to the conflict in concurrent jurisdiction
The article elaborately discusses the Principle of Comity. Citing various decisions and discussing international jurisprudence, it notes that an orderly disorder has crept into various statutes where multiple authorities have concurrent jurisdiction to decide the same issue and such authorities choose to exercise the same simultaneously, leading to conflicting orders. has context menu
Yogendra Aldak+219 Feb 2025
Direct Tax Financial Services
Capital reduction: End of the road for taxpayer fate?
The Supreme Court recently held that the complete reduction of capital (resulting in cancellation of shares) amounts to ‘transfer’ in terms of Section 2(47) of the Income Tax Act, 1961 and the consequent payout would be exigible to tax under the head capital gains. The article attempts to explore the possible fate of the taxpayers to claim capital loss in a scenario where no payout is received pursuant to a reduction in share capital.
Varshini U.J19 Feb 2025
Customs All Industries
Dawn of new era of provisional assessments under Customs Section 18
The article discusses a recent proposed amendment in Section 18 of the Customs Act that appears promising on ease of business. On deeper analysis, however, it does pose various questions, as the consequences of non-fulfilment of the timelines proposed are not specified.
Anurag Kapur+212 Feb 2025
Direct Tax All Industries
Union Budget 2025 – Tax treatment of securities held by AIF (CAT I and II) in India
The article discusses Alternate Investment Funds (AIFs), which are privately pooled investment vehicles which collect funds from investors, whether Indian or foreign, for investing in certain class of securities. It examines their special taxation regime, the issues with the current provisions, the proposed amendments, and the impacts of these amendments after the Finance Bill, 2025.
S. Vasudevan+111 Feb 2025
Direct Tax All Industries
Union Budget 2025: Navigating the new presumptive tax landscape for non-residents
The article discusses the scope of the new presumptive taxation scheme which has been proposed for non-residents engaged in providing services or technology in India for setting up electronics manufacturing facility or manufacturing electronic products in India. It discusses the issues which need clarification for the application of the scheme.
Harshit Khurana+110 Feb 2025
Customs All Industries
Amnesty Scheme for Advance Authorization / EPCG: No penalty for export obligation defaults after regularization
The article discusses the Amnesty Scheme, which offers the exporters a one-time opportunity to regularize defaults in export obligations under the Advance Authorization and EPCG schemes. It notes that the loophole of absence of any mention of penalty waiver was cited by Customs Authorities to demand penalty but, recently the CESTAT has held to the contrary.
Srinidhi Ganeshan+110 Feb 2025
All Practices All Industries
Beyond borders: The challenge of transnational subsidies in global trade
The article addresses the issue of transnational subsidies in global trade across three sections. The first section examines the present framework of the SCM Agreement. The second section focuses on developments in the European Union (EU) and the United States of America (USA). Finally, the third section discusses the way forward for India.
Abhishek Tripathi10 Feb 2025
General Corporate Real Estate & Infrastructure+1
Rent/lease agreements – Enforceability of lock-in period
Typically, parties to a rent/lease agreement insert a lock-in period to ensure that either party is unable to terminate the agreement before the stipulated period. Such agreements also incorporate a provision for liquidated damages in the form of rent for the remainder of the lock-in period. The article discusses the jurisprudence on ‘liquidated damages’ in India and its effect on the lock-in-period.
Archit Gupta+107 Feb 2025
Customs Healthcare & Pharma
Laboratory chemicals and Budget 2025: Examining the change
The article discusses on changes made in the Budget 2025 in regards of laboratory chemicals which is covered under Heading 9802 of the Customs Tariff in India, a part of Chapter 98 which is unique to India.
Srinidhi Ganeshan+107 Feb 2025

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