Articles

Benefits of Income-tax Act 1961 to charitable trusts

The Income-tax Act, 1961 (“the Act”) provides for various benefits to a trust formed for charitable or religious purposes. Section 11 of the Act exempts the income derived from property held under trust for charitable purposes from taxation, inter alia, to the extent to which such income is applied for such purposes ‘in India’. The phrase ‘applied for charitable purposes in India’ has been a subject matter of litigation in the recent past.

Exploring the requirement of sufficiency of disclosure in patent specification

A patent is a monopoly granted to an applicant in return for his invention being made public so that at the end of the patent term, the invention may benefit the people at large. The disclosure in a patent specification can also be used during the term of the patent for further development of the technology.

The draft E-Commerce Rules - Moving towards protectionism

The Ministry of Consumer Affairs, recently, on November 11, 2019, under Section 101(1)(zg) of the Consumer Protection Act, 2019 issued a draft set of rules on e-commerce titled the Consumer Protection (e-commerce) Rules, 2019 (“Draft Rules”).

Applicable time limit in Anti-dumping review proceedings

Three types of reviews are contemplated under the WTO Anti-dumping Agreement & Indian Anti-dumping Rules, 1995 namely (i) Mid-term review under Rule 23(1A) (ii) Sunset review under Rule 23(1B) and (ii

Taxation of income from shipping business

The shipping industry plays a vital role in the international trade. The recent UNCTAD report provides that more than four fifths of world merchandise trade by volume is carried by sea. Indian companies also generally use foreign vessels or avail the carriage services of foreign shipping companies for transportation and other business activities. The amount paid to these foreign shipping companies may be taxed in India if the income accrues or is received in India.

The right to cross-examine in a post-grant opposition

In the case of Onyx Therapeutics Inc v Union of India , a Division Bench of the Delhi High Court vide its order dated September 26, 2019 held that once the Patentee has filed its reply-statement, the Patentee is not required to provide any separate reasons for cross-examination of the witnesses whose affidavits are filed by the Opponent in support of its Post-grant Opposition.

Pre-import condition and Rule 96(10) - Misplaced comforts and GST implications for Advance Authorization holders

With the end of 2019 right around the corner, it is interesting to reflect back on the changes that the tax fabric has seen in the past year. One of the major reliefs that the assessees received at the beginning of 2019 (in January) was the removal of a ghost known as “Pre-import condition” specifically for manufacturers who were Advance Authorization holders.

CGST Rule 36(4) - 20% of which credit are you eligible for?

Change is the only constant’ - A phrase the CBIC seems to have adopted with the trade being bombarded with a barrage of amendments and day to day clarifications in the GST laws since the implementation of GST.

Panel Report in India-Export Related Measures – End of the road for export promotion programs?

On 14 March 2018, the United States requested consultations with the Government of India under the WTO Dispute Settlement Mechanism on some of the export promotion programs maintained by India.

The Dividend Dilemma

Regional Comprehensive Economic Partnership (RCEP): India’s concerns

Deduction for additional employment - Simple yet ambiguous