all Law.: Recent Episodes
Lakshmikumaran & Sridharan Attorneys.
A podcast channel that covers the latest developments in Indian Law, with a special emphasis on Tax Law, IPR, and Corporate Law.
Here is another episode of LKS’ all Law., where Mr. Devesh Aswal and Ms. Neha Jain discuss the topic “Cross-Border Share Sale – Eligibility for Tax Treaty Benefit”.
The benefit under the tax treaty is subject to provisions of General Anti Avoidance Rules (GAAR) enacted under the domestic law and Principal purpose test (PPT) embedded in tax treaties. Under both GAAR and PPT, the benefit of tax treaties should be available only for transactions having commercial substance. Though both GAAR and PPT are relatively new, the Courts in India have been applying judicial anti-avoidance tests existing prior to the introduction of GAAR. In this podcast, we will cover the jurisprudence and the key issues surrounding the application of GAAR and PPT.
This podcast is based on a recent article by Mr. Harshit Khurana and Ms. Sonali Bansal.
Link to the article: https://www.lakshmisri.com/insights/articles/cross-border-share-sale-eligibility-for-tax-treaty-benefit/
Here is another episode of LKS’ all Law., where Ms. Anshita Khandelwal and Mr. Arpit Mehra discuss the topic “EU’S NON-PREFERENTIAL RULES OF ORIGIN: A TOOL FOR DETERMINING ORIGIN OF GOODS AND PROMOTE FAIR TRADE”
Recently, EU has been focusing on strengthening its non-preferential rules of origin by prescribing tighter norms for the determination of the origin of goods. These rules are enforced by the customs authorities at the border, thereby ensuring origin is properly declared in the entry documents filed before customs authorities for all regulatory purposes and duties, including trade remedial duties, are appropriately paid by the importers.
This podcast is based on a recent article authored by Mr. Arpit Mehra
Link to the article: https://www.lakshmisri.com/insights/articles/eu-s-non-preferential-rules-of-origin/
Here is another episode of LKS’ all Law., where Mr. Prashant Pratyay and Mr. Gaurav Tiwari discuss the topic “Digital Personal Data Protection Act – Implications for financial entities and fin-tech sector”
The Digital Personal Data Protection Act, 2023 introduces a comprehensive framework on data protection applicable to entities processing personal data across all sectors. Some of the key obligations include notice, consent requirements, relying on legitimate purposes (where applicable), implementation of technical and organizational measures and security measures for preventing data breach.
Link to the article: Digital Personal Data Protection Act – Implications for financial entities and fin-tech sector
Authors: Prashant Phillips and Sameer Avasarala
Here is another episode of LKS’ all Law., where Mr. Aman Joshi and Ms. Mehak Mehra discuss “Key Issues Impacting the Pharmaceutical Sector Classification, Human Resources & Investigations”
Since the introduction of Goods and Services Tax (GST), Indian pharmaceutical companies have faced significant challenges in implementing their operations, revamping their systems, understanding the law, complying with various law provisions, claiming refunds, and handling audits and investigations in an uncertain environment. In this podcast, we will cover key issues relevant to the Indian pharmaceutical industry from a Classification, Human Resources & Investigations perspective.
This podcast is based on a recent article by Mr. Satya Sai, Associate Partner, and Satish Gandla, Principal Associate.
Link to the article: https://www.lakshmisri.com/insights/articles/key-issues-impacting-the-pharmaceutical-sector-1/
Here is another episode of LKS’ all Law., Ms. Masooma Rizvi. and Ms. Rashi Srivastava discuss the topic “Withdrawal of Corporate Insolvency Proceeding Even Prior to Formation of Committee of Creditors is Permissible”
The Honourable Apex Court, in the recent matter of Abhishek Singh vs. Huhtamaki PPL Ltd. and Ors. rendered a significant ruling, establishing that a plea for the withdrawal of the Corporate Insolvency Resolution Process can be allowed by the adjudicating authority even before the establishment of the Committee of Creditors.
Link to the article: Withdrawal of corporate insolvency proceeding even prior to formation of committee of creditors | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Authors: Abhilasha Jha
This podcast examines the decision of the Hon’ble High Court of Calcutta (‘High Court’) on an appeal (AID NO. 11 OF 2021) filed by Decco Worldwide Post Harvest Holdings B.V & Anr. (‘Appellant’) seeking to set aside an order (‘impugned order’) passed by the Controller of Patents and Designs (‘Respondent’) refusing the grant of the Appellant’s patent application for being a method of agriculture under Section 3(h) of the Act, apart from lacking an inventive step and having insufficient disclosure.
The High Court, after considering the facts of the case, decided that the assessment of the claimed invention by the Respondent was erroneous and remanded the application back to the Respondent to examine the subject patent application afresh including the question of patentability, after giving an opportunity of hearing to the appellant. This podcast specifically focuses on the opinion of the High Court with respect to the assessment of inventions under Section 3(h) of the Act.
This podcast is based on a recent article by Srinivasan T. and Eeshita Das.
Link to the article: Patent of method of treating a plant – Interpretation of Section 3(h) | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Voice: Nikita Chauhan and Devesh Aswal
Here is another episode of LKS’ all Law., where Ms. Soumya Malhotra and Mr. Gaurav Tiwari speak about the much-awaited digital personal data protection bill 2023.
Passed by both Lok Sabha and Rajya Sabha, the Digital Personal Data Protection Bill 2023 finally received assent from the Hon’ble President of India on 11th August 2023.
This podcast is based on a recent article authored by Mr. Prashant Phillips, Executive Partner and Mr. Sameer Avasarala, Senior Associate
Link to the article: Pacing towards a data protection law: Analysing the Digital Personal Data Protection Bill, 2023 | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Here is the latest episode of all Law, featuring Ms. Kanika Jain and Ms. Aishwarya Vardhan, as they delve into the recent ruling of the Maharashtra AAAR of CHEP India Pvt Ltd.
This ruling examines a transaction and holds that although the supply of goods/services between distinct persons would amount to a supply under GST laws, the mere movement of goods between two GSTINs would not amount to a supply when the GSTIN undertaking such movement is only a bailee of such goods.
This podcast is based on a recent article by Mr. Brijesh Kothary, Ms. Padmasri Manyam, and Ms. Ananya Raghavendra.
Link to the article: Leasing of capital goods between two GSTINs | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
This podcast addresses uncertainties in tax laws, particularly regarding the interpretation of legal provisions and the ensuing litigation. It focuses on the tax implications of exporting services, treated as tax-free or zero-rated under GST laws. The Export of Services Rules, 2005, have been subject to frequent amendments and litigations due to the interpretational challenges posed by the "used outside India" condition. The podcast highlights a recent decision in Arcelor Mittal Stainless India Private Limited vs. CST, Mumbai-II, 2023-VIL-516-CESTAT-MUM-ST where the Larger Bench of CESTAT ruled in favor of exporters. It held that providing Business Auxiliary Services to recipients outside India, with consideration received in convertible foreign exchange, qualifies as an export of service. The Tribunal clarified the term "service recipient" and determined that the location of the service recipient being outside India is crucial for fulfilling the export condition. The impact of this decision on the GST regime and its implications for businesses engaged in cross-border transactions remains to be seen, as it may influence the interpretation of GST provisions as well.
Link: Export of services: Settled, yet unsettled | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Source: An article published on the LKS website in June 2023
Authors: Shrishti Agarwal, Disha Jain, and Narendra Singhvi Voice: Ananya Raghavendra and Saundarya Sinha
The Finance Act, 2021 overhauled the then-existing reassessment provisions under the Income-tax Act. Earlier, the reassessment provisions required the Assessing Officer to form an “independent belief” based on the “new tangible material”. Now, the reassessment provisions have been made information centric. The Assessing Officer is required to possess the information that suggests that the income chargeable to tax has escaped assessment. For that matter, what constitutes information has also been defined under the Act. When the reopening has now been made permissible on the possession of the defined information, the question is whether a change of opinion based on such information can result in a valid reopening. This Podcast seeks to discuss this crucial aspect of the new reassessment provisions.
Link: Change of opinion: Whether permissible under the new provisions of reassessment? | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Source: An article published on the LKS website in July 2023
Authors: Neha Sharma Voice: Arpit Mehra and Kanishka Sihare
In this podcast, we have explored how, despite not being a statutory remedy, the revival of Insolvency proceedings is permitted if the same was withdrawn pursuant to a settlement. We have discussed the process of revival. The process of revival would only arise if the terms of the settlement pursuant to which the IBC Proceeding was withdrawn, have not been honored by the parties to the said settlement. We have further examined the concept of ‘liberty’ that is required in the National Company Law Tribunal’s order vide which the withdrawal of the IBC Proceeding was permitted. We further went on to examine the effect of the settlement agreement on the nature of debt if the settlement was entered between the parties after the IBC Proceeding was initiated. We have concluded that (a) revival of IBC Proceeding is permitted on certain conditions; (b) by virtue of entering into Settlement after IBC Proceeding is initiated would not change the nature of the debt.Link: Revival of insolvency proceedings: Analysis and way forward | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Source: An article published on the LKS website in June 2023
Authors: Aman Gupta Mayank Kumar
Voice: Pratyush Jain and Falguni Gupta
The Government of India’s consistent push to promote domestic electronic industry’s manufacturing capabilities faced a slight dent due to the recent adverse judgement from the WTO. The judgement held that India’s import duty measures were inconsistent with its commitments & obligations under the WTO Agreements. The complainant’s (EU and several other countries) viewpoint was that India had breached the bound rates under the Schedule of concessions by imposing the disputed custom duties on imports of certain electronic goods. However, India maintained that bound rates in the Schedule were not applicable to the products in question as those products were not in existence at the time of India’s commitments, and they got included in India’s commitment by an inadvertent oversight. Although the arguments advanced were insightful & contained merit, the Panel was of the view that India’s primary obligations stem from her WTO Agreements and not from the commitments under the ITA which formed the fulcrum of India’s arguments. While the industry may face headwinds in the short term, the government will find alternative measures to keep the electronics industry competitive in the long term as envisioned.
Link: India loses the fight for electronic goods against EU at the WTO | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com) Audio Source: An article published on the LKS website in June 2023 Authors: Rizwan Shah
Voice: Sanjhi Agarwal and Gaurav Tiwari
The Hon’ble Supreme Court of India (“Hon’ble SC”) in the recent decision in Saraf Exports v. CIT settled the issue of entitlement of deduction as per Section 80IB of the Income Tax Act, 1961 (‘IT Act’). The issue was pertaining to the receipts under Duty Drawback scheme (‘DDS’) and transfer of Duty Entitlement Pass book scheme (‘DEPB’). During the subject period, the taxpayer received certain incentives under DDS and DEPB. These said benefits were claimed as deduction u/s Section 80IB of the IT Act, as being ‘derived from’ its industrial undertaking of manufacturing wooden handicrafts. The Hon’ble Supreme Court held that export incentives will not qualify as first-degree nexus for the purposes of claim of deduction under Section 80-IB. The decision has reiterated the principle laid down earlier that restrictive meaning must be given to the expression ‘derived from’.
Link: Impact analysis of the Supreme Court decision in Saraf Exports v. CIT: Worth the wager? Audio Source: An article published on the LKS website in June 2023. Authors: Krishna Laasya V
Voice: Dikshita Damodaran,Amrusha Monga
When producers/exporters export goods to other countries, they are likely to face anti-dumping and anti-subsidy investigations. To successfully face such investigations, the producers/exporters need to be trade-remedy ready. This podcast provides a short guide on the certain steps that producers/exporters should take in this regard. One, entities must employ a robust ERP system for reporting their data seamlessly and accurately. Second, entities must ensure support from their traders, especially when the supply chains are complex. Third, they must monitor their export prices regularly. Producers/exporters must aim to secure their market position by participating in the investigation and getting the best results.
Link: Becoming trade remedies-ready – A practical guide for producers and exporters | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in May 2023. Authors: Devinder Bagia Jayant Raghu Ram
Host: Bhavya Shukla
Expert: Prashant Phillips
Recently, an amendment was brought in through the Finance Act 2023 in section 11 of the Income Tax Act, 1961, through which only 85% of the total sums paid or credited by one charitable entity to another charitable entity will be deemed to be “application” towards charitable purposes. This amendment was brought in to discourage the practice of forming multiple layers of charitable entities in order to retain more than 15% at each stage. However, it may seriously impact those charitable entities which are working on channelizing the donations by aggregating donations from multiple donors and applying almost whole of the donations by contributing to charitable entities engaged in actual application towards end causes. Thus, these charitable entities that act as aggregators can be subject to taxation at maximum marginal rates in spite of applying almost 100% of the donations received by it by way of donations to other charitable entities. This deeming provision causes uncertainty for the charitable entities, and a clarification from CBDT in this respect would be welcome.
Link: Deemed application provision causes uncertainties for donation aggregators | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in May 2023. Authors: Sanjhi Agarwal and Prachi Bhardwaj
Host: Arpit Mehra
Expert: Sanjhi Aggarwal
The Hon’ble Supreme Court of India (“Court”) in the recent decision by the five-judge Bench in N.N. Global Mercantile Pvt. Ltd. v. Indo Unique Flame Ltd. (Judgment dated 25 April 2023), which is a reference from the decision of three judge Bench delivered by the Court on 1 January 2021 [(2021) 4 SCC 379], clarified the stance on the validity / enforceability of the arbitration agreement or arbitration clause contained in an agreement / contract, which is not stamped in accordance with the Indian Stamp Act, 1899 (“Stamp Act”). The Court finally settled the conundrum and held that the arbitration or the appointment of arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) cannot be invoked if the arbitration agreement or clause is contained in an unstamped or insufficiently stamped agreement or contract.
Link: Arbitration agreement, which is part of an unstamped contract, has no existence | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in May 2023. Authors: Manasa Tantravahi Aman Gupta
Expert: Dhruv Matta
This podcast examines the decision made by Hon’ble High Court of Delhi (‘High Court’) on an appeal filed under Section 117A of the Patents Act, 1970 (‘Act’). The appeal was filed by Societe Des Produits Nestle Sa (‘Appellant’) seeking to set aside an order passed by the Controller of Patents and Design (‘Respondent’) refusing the grant of the Appellant’s Patent Application for lacking inventive step and for not being patentable under Section 3(i), Section 3(e), and Section 59 of the Act. The High Court after considering the facts of the case, decided that the assessment of the claimed invention by the Respondent was erroneous and directed that the Patent Application may proceed for a grant. The High Court has redefined the boundaries of permissible claim amendments for overcoming the objections on non-patentability especially Section 3(i) of the Act without jeopardizing the requirements of Section 59 of the Act. Therefore, the primary focus of this podcast is on the interpretation of Section 3(i) and Section 59 of the Act provided by the High Court.
Link: De-blurring Section 59 of the Indian Patents Act 1970 | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in May' 2023 Authors: Malathi Lakshmikumaran, Srinivasan T, Eeshita Das, and Aashmeen Kaur Expert: Falguni Gupta
Host: Arnab Bhattacharya
This podcast focuses on the interesting issue settled by the Hon’ble Madras High Court in the case of Eastman Exports Case pertaining to the reversal of ITC on the loss of inputs inherent to the process of manufacturing. The Hon’ble Court held that ITC can be claimed on the inputs which are lost in manufacture as such loss is inherent to the process of manufacture itself. To arrive at the decision, the Hon’ble Court primarily relied on the principles laid down in the JK Cotton Spinning & Weaving Mills Case. The Hon’ble Court also resorted to the principles of indispensability and commercial expediency of the inputs to arrive at the aforesaid conclusion. The Article also focuses on the ratios laid down in the subsequent decisions under diverse indirect tax legislations, wherein, similar conclusions were arrived at. The Article also compares S.19(9)(iii) of the TNVAT Act with Section 17(5)(h) of the CGST Act and opines that the Impugned Judgement might come to assistance if similar demands are raised under the GST regime. The Podcast ends on a cautious note that each claim/reversal of ITC must be independently dealt with.
Link:Eligibility of Input Tax Credit vis-à-vis inherent loss of inputs during manufacture | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com) Audio Source: An article published on the LKS website in May 2023.
Authors: Charulatha R Nimrah Ali
While the inclusion of interest amounts in ‘financial debt’, for the purposes of the Insolvency and Bankruptcy Code, 2016 (‘IBC’), is clearly provided for in the IBC, the interest component in the case of operational debt has always been a point of contention.
Definition of the term ‘financial debt’under Section 5(8) of the IBC expressly includes the term ‘interest’ to be a part of the debt that can form a part of the claim against the corporate debtor. However, the definition of the term ‘operational debt’ under Section 5(21) of the IBC does not specifically mention the term ‘interest’ to be included as a part of the debt. There appears to be a deliberate difference in the language used for both terms. Accordingly, the understanding between the parties over levy of interest plays a key role while computing the amount of ‘operational debt’.
Link: Interest as part of Operational Debt: A conundrum | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com) Audio Source: An article published on the LKS website in April 2023. Authors: Noorul Hassan Aishwarya Narasimhan
The podcast discusses the intricacies of TDS (tax deducted at source) withholding, which affects the taxable value under the Goods and Services Tax (GST) system in India. Under the Income Tax Act, 1961, TDS is withheld by Indian service recipients on the amount payable to foreign service providers. To clarify the taxable value under service tax, the Central Board of Excise and Customs (CBEC) stated that the taxable value shall be the gross value, including TDS. However, the net receipt in the hands of foreign service providers is reduced to the extent of TDS, which can be overcome by restructuring the transaction. The issue is whether the taxable value for discharging GST should be confined only to the contractual payment or whether the amount of TDS should also be added. The podcasr discusses court decisions on the valuation provisions in the Finance Act, 1994, and the GST law.
The author highlights the intricacies of TDS withholding, which has been a matter of dispute in the past. While some court decisions have held that TDS should not be added to the taxable value, the podcast suggests that the valuation provisions under the GST law require a closer examination of whether the contractual payment made to the supplier can be equated with 'sole consideration.'
While the Finance Act considers the contractually agreed amount as the gross amount charged, the GST law provides that the taxable value shall be the transaction value, i.e., the price actually paid or payable. However, the presence of 'sole consideration' would depend on the facts and circumstances of each case, and it needs to be examined whether the contractual payment made to the supplier can be equated with 'sole consideration', wherein TDS is borne by the service recipient.
The podcast concludes that the presence of 'sole consideration' would largely depend on the facts and circumstances of each case.
Link:Withholding Income Tax: Withholding the ambiguity in GST Valuation? | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in April 2023. Authors: Shiwani Kaushik, Associate LKS
Patentability of ‘Selection Inventions’ has been a hotly contested issue in India, especially in the context of pharmaceutical inventions. A selection patent is one whose subject matter (compounds or compositions) forms part of a larger known class or Markush structure of compounds which is the subject matter of a prior patent. A selection patent, referred to as species patent, has a specific coverage while the prior patent, referred to as genus patent, has a broader coverage. Recently, two decisions of the Delhi High Court have adjudicated patentability of the species patent with respect to the genus patent as part of infringement proceedings.
Link:Patentability of Selection Inventions – Analysis of recent Delhi High Court decisions | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in April 2023. Authors: Gursimran Singh Narula, Associate and Vindhya S. Mani Associate Partner, LKS
Every year, the announcement of the Union Budget is eagerly awaited as one of the key tax policy events in India. This year was no different.
Amongst various tax amendment proposals announced this year, proposal for taxing ‘cash’ benefits and perquisites is likely to have a wide-reaching impact on the taxpayers, especially in the context of waiver of debts due from a corporate debtor. More than the corporate debtor, the amendment may prove to be burdensome for the lender waiving such debts due to withholding tax liability imposed upon such lender.
This article aims to discuss the proposed amendment and its impact in the context of waiver of debt.
Link: Tax on ‘Cash’ benefits and perquisites – Applicability on waiver of debts | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in March 2023. Authors: Harshit Khurana, Principal Associate, LKS
This podcast describes the amendment in claims that were allowed by the High Court in Delhi. Justice Hari Shankar in this landmark judgement had allowed amending claims from method of treatment to product (i.e., implant claims). This case will serve as a milestone since till date amending method of treatment claims to any other allowable claim format (such as product) has been considered as non-allowable under Section 57 and 59 of the Act. the Hon' Justice has looked at the facts of the case, such as, the implants per se were well supported and explained in the as-filed specification and the Applicant is well within its right to claim for such an implant. Ayyangar Committee Report, which forms the basis of our current act was also discussed and the Justice noted that the intention of the report was to allow wider permissibility in claim amendments before the grant and it is not needed for the invention to be identical before and after the amendment. Special reliance was also placed on different case laws and orders which altogether suggest that the object of patent law is to encourage scientific research, new technology and industrial progress. Therefore, rejecting the claims outright under Section 59 without substantial examination will be against the very purpose of the Act.
Link: A ray of hope: Delhi High Court allows amending method claims to product claims | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in March 2023.
Authors: Prosenjit Chattopadhyay, Partner and Swati Upadhyay, Assoicate LKS
The imposition of trade remedial measures in India is a two-step process – the investigation conducted by the Directorate General of Trade Remedies (‘DGTR’) under the Ministry of Commerce and the final imposition of measures by the Department of Revenue under the Ministry of Finance (‘MoF’). This division of powers is clearly laid out in the Customs Tariff Act (‘CT Act’).
Audio Source: An article published on the LKS website in March 2023.
Authors: Devinder Bagia, Partner, and Aayush Rastogi, Senior Associate LKS.
With India setting ambitious target to become net zero by 2070, the recent amendments to the Energy Conversation Act, 2001 brings in a regulatory framework in moving towards the stated goal of becoming a low carbon intense economy. A significant introduction in this amendment is the introduction of carbon markets that would enable entities to trade credits earned from conservation of energy in line with the Paris Agreement (COP21). The practical and implementation aspects of the carbon credit trading will be clearer once the trading scheme is notified in future. With renewed focus on sustainable development goals to secure future generations, we may see more similar policy reforms in the future and this amendment to Energy Conversation Act, 2001 is only a first in the lot.
Audio Source: An article published on the LKS website in February 2023.
Authors: Kumar Panda, Senior Associate LKS.
This podcast examines the decision made by the Hon’ble High Court of Delhi (‘High Court’) on an appeal (2022/DHC/004697) filed under Section 117A(2) of the Patents Act, 1970 (‘Patents Act’). The appeal was filed by Avery Dennison Corporation (‘Appellant’) seeking to set aside an order passed by the Controller of Patents and Designs (‘Respondent’) refusing the grant of the Appellant’s patent application for lacking inventive step. The High Court, after considering the facts of the case, decided that the assessment of the claimed invention by the Respondent was erroneous and directed that the patent application may proceed for a grant. The podcast also highlights the fundamental principles discussed by the High Court for analysis of an ‘inventive step’ in India.
Audio Source: An article published on the LKS website in February 2023.
Authors:Eeshita Das, Senior Patent Analyst and Archana Viswanathan, Principal Associate.
Section 11 of the Income-tax Act, 1961 inter alia exempts the income of a registered Trust, earned from property held under Trust, while Section 13 of the Act contains certain anti-abuse provisions to deny exemption upon certain applications of the Trust income. Where any part of Trust income is applied / invested directly or indirectly, for the benefit of specified person is violative of Section 13(1)(c) while investment of any part of Trust income other than in public sector company or modes specified under Section 11(5) is violative of Section 13(1)(d).
This podcast firstly addresses the controversy regarding the expansiveness of Section 13(4). Notably, Section 13(1)(c) and Section 13(1)(d) function as independent bars on Section 11 exemption. Section 13(4) has been drafted in such a manner that any protection guaranteed by Section 13(4) may relax requirements of Section 13(1)(c), but Section 13(1)(d) will continue to apply towards any exempted income under Section 11.
The other issue addressed by the podcast is pertaining to historical disputes around the denial of exemption vide Section 13, i.e., whether violation of Section 13 results in denial of exemption under Section 11 in toto, or only to the extent of such violation. Conflicting judicial views persisted on either position of law. The Finance Act 2022 seeks to put an end to this conflicting view by clarifying that only that part of income which has been applied / invested in violation of the Section 13(1)(c) / Section 13(1)(d) shall be liable to denial of Section 11 exemption and be taxable under the newly introduced Section 115BBI of the Act.
Audio Source: An article published on the LKS website in February 2023.
Taxation of unexempt income of Public Charitable Trusts
Authors: Samyak Navedia , Associate LKS,
The arbitral awards are given for various reasons and to know the GST implications on each of these awards it is pertinent to understand the nature of the awards given. The arbitral award may provide compensation to the parties, in the form of damages or it may be reimbursement of the amount which is incurred by one of the parties to the contract. Recent circular passed by CBIC Circular No. 178/10/2022-GST dated 3.8.2022 clarifies that the damages are amount paid to compensate the injury, loss or damage suffered by one of the parties due to breach of contract and such amount shall not qualify as consideration towards supply of any goods or services. However, the Circular has not been expressive with respect to various reasons for which the arbitral award is granted and thus the direct approach that the award is in the nature of damage and that the GST is not applicable would jeopardize the actual GST implication on such award.
Audio Source: An article published on the LKS website in December 2022.
Arbitral award: Compensation or consideration | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Authors: Jagannadh Grandhi, Associate Partner LKS, and Kumari Nivedita, Associate LKS
GST was introduced vide 101st Constitutional Amendment Act to provide Center and State Government, the power to levy GST on supply of goods under Article 246A. The States lost power to assess VAT on sale of goods and hence, VAT laws were to be aligned till 16.09.2017.
Thus, VAT limitation period could have been amended within above time; however, few State Governments have enhanced limitation period, beyond above time. Various High Courts [Kerala, Gujarat and Telangana] held that States lost their power to administer VAT after above time. However, Bombay High Court observed that States gained power to administer tax on local supply of goods under Article 246A and hence, VAT amendment was held valid.
However, Article 246A empowers States only for administering GST and not VAT. Hence, amendment in limitation period after 16.09.2017 may not be legally sustainable.Audio Source: An article published on the LKS website in January 2023
Value addition’ in Value Addition Tax: Extension of limitation period | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)Author: Rinku Panbude
The previous article published in our firm’s IPR Amicus, Issue No. 135 (December 2022)[1] highlighted evolving jurisprudence and the principles for filing divisional applications in India as laid out by the erstwhile Intellectual Property Appellate Board (‘IPAB’) and the Delhi High Court.
A key prerequisite for filing a divisional application, as mentioned in the previous article, is that the presence of plurality of invention has to exist, not just in the specification, but also in the claims of the parent (first mentioned) application.
This prerequisite can be clearly drawn from the following orders:
(1) Order No. OA/66/2020/PT/DEL dated 27 October 2020, of IPAB, Esco Corporation v. Controller of Patents & Designs[2];
(2) Order No. OA/3/2015/PT/MUM dated 27 October 2020, of IPAB, UCB Pharma S.A. v. Controller of Patents & Designs[3]; and
(3) Boehringer Ingelheim International GMBH v. The Controller of Patents & Anr., dated 12 July 2022, of the Delhi High Court[4].
Emphasis is drawn on to some excerpts of the above-mentioned orders:
Aythors: Gaurav Gupta, Director and Shashank Kinra, Senior Patent Analyst LKS
The United States imposed additional duties of 25% ad valorem on steel imports into the country. Section 232 of the Trade Expansion Act of 1962 imposed additional duties. Several provisions of the General Agreement on Tariffs and Trade ('GATT') were violated, most notably the security exception in Article XXI. The US argued that the measures were justified under GATT Article XXI (b)(iii), which allows a WTO Member to take measures necessary to protect its essential security interests. The panel determined that this did not negate the requirement that such action be taken in accordance with the conditions and circumstances specified in clause XXI. The panel in Russia – Traffic in Transit has also explained what might constitute an 'essential security interest ‘While it has recognized that every Member has the discretion to define what it considers to be its essential security interests, it has drawn a red line by stating that this does not mean that a Member is free to elevate any concern to that of an 'essential security interest', and the designation of any concern as an essential security interest must be in 'good faith ‘In this context, the panel's ruling in Russia – Traffic in Transit set an important precedent for the present dispute in holding that the measure must be connected and be plausible in relation to the essential security interest articulated by the defending Member. This excess capacity, according to the US, constituted an 'emergency in international relations’. The panel further held that the Section 232 steel and aluminum reports issued by the US Department of Commerce did not identify or address the existence of an 'emergency in international relations'. It was expected that the US Government would tone down its nihilistic rhetoric towards the multilateral trading system and withdraw measures that seemingly violate WTO law. The US is quite likely to appeal the panel report to the Appellate Body, which ironically, the US has driven to the ground.
Audio Source: An article published on the LKS website in December 2022
Playing on the wrong side – United States’ Section 232 measures held inconsistent with WTO law | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Author: Jayant Raghu Ram, Partner (LKS)
The Supreme Court’s landmark judgment in Ahmedabad Urban Development Authority laid down new law on claim of tax exemptions by charitable entities engaged in activities of General Public Utility (i.e., GPU) and deriving incidental business income. This judgment overruled the earlier “predominant object test” set by the Supreme Court in Surat Art Silk ruling for checking the eligibility for claiming exemption under section 11 of the Income-tax Act, 1961. The Supreme Court has analyzed section 2(15) of the Income-tax Act, 1961, and replaced the old test of a predominant object with a new test i.e., nominal vs. substantial profits. The Court essentially held that the GPU entity earning nominal profits will not be debarred from claiming exemption on its incidental business income. However, a GPU entity earning substantial profits can claim exemption only if the prescribed threshold (i.e., business receipts not exceeding 20% of the total receipts of such entity) is adhered to.
The authors through this podcast have analyzed the key findings of the judgment and the ramifications it may have on the GPU entities going forward.
Audio Source: An article published on the LKS website in December 2022
Normal and substantial profits – A new yardstick for charitable purpose | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Authors: Prachi Bhardwaj, Associate LKS) and Sanjhi Agarwal Associate (LKS)
The article discusses workplace investigations in India. It notes that due to the subjective nature of the investigations under consideration, there is no set mechanism or strict procedure which needs to be adhered to, for conducting such investigations. The authors however discuss the broad guidelines related to requisition, review and questionnaire, investigation interviews, transcripts, and preparing the investigation report, which aids the investigation team and is to be read along with the internal policies of the concerned organization. They also note that organizations now prefer the engagement of external lawyers for such investigations, who besides providing credibility would also be well-equipped with similar exercises and prepared to discuss and advise concerned officials of the organization on the future course of action, as recommendation measures. According to the authors, proper policies need to be put in place and it is to be also ensured, that the stakeholders are made aware of the same, including any amendments thereto, as this may not only assist in creating a better work environment but also in investigating allegations later.
Audio Source: An article published on the LKS website in December 2022
Navigating a workplace investigation | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Authors: Sudish Sharma, Executive Partner and Ayushi Agrawal, Associate
Recent cases on divisional applications, in India, redefine the requirements with respect to divisional applications. An applicant, to whom divisional applications have been invaluable for securing multiple patents arising out of a single inventive platform, the recent decisions may appear more restrictive. To bring uniformity in practice and in the best interest of justice certain principles have been laid down by the courts that are to be adhered to while dealing with divisional applications. In exercising the Applicant’s right to file a divisional application, the principles may be relied upon for guidance in strategizing national phase entries and divisional applications thereon.
Audio Source: An article published on the LKS website in December 2022
Divisional Applications in India: Evolving jurisprudence | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Author: Prosenjit Chattopadhyay, Partner LKS and Supriya Ramacha, Principal Associate
In the previous Podcast, we started navigating trade in a world of sanctions. We understood that among the numerous measures adopted by the US, the war has brought into focus the use of sanctions as an instrument to penalize Russia and its allies such as Belarus. As a leading user of sanctions, the United States has one of the most comprehensive legal frameworks for the imposition of sanctions that can be mind-boggling for both US and foreign businesses alike. One of the key agencies implementing sanctions in the United States is the Office of Foreign Assets Control.
The podcast discusses some of the salient aspects of the US sanctions regime as administered by the OFAC. It also discusses how can Indian businesses provide more attention to the implications of sanctions on them, the challenges that Indian businesses face, and how they comply with provisions of OFAC to overcome these challenges.
Audio Source: An article published on the LKS website in December 2022
OFAC - Insights into the US sanctions regime | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Author: Arpit Mehra, Associate LKS
The Government has with effect from 19 November 2022 rolled back export duty on iron ore pellets and steel products, including pig iron, flat-rolled products of carbon steel and stainless steel, bars, rods, and non-alloy steel. Export duty on iron ores with a grade higher than 58% has been reduced from 50% to 30%, while the lower grade iron ores no longer attract export duty restoring back the exemption granted up to 21 May 2022.
The duty on the export of iron ore pellets and select steel products was imposed with effect from 22 May 2022, and parallelly, the duty on the export of iron ores and concentrates was increased with the objective of checking on the rising steel prices in the Indian market, addressing shortages and curbing inflation. The move to roll back the export duty within a period of six months is taken considering the stability in domestic prices of the steel products and taking all stakeholders’ concerns into account because the inventory of steel products has risen drastically, and India has become a net importer of steel in October 2022 due to curtailed exports.
In this podcast, the authors are explaining the impacts and implications of why the government has withdrawn the export duty imposed on Iron and Steel items.
Audio Source: An article published on the LKS website in November 2022
Export duty on iron ore and steel intermediaries – An industry perspective! | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Author: Ravi Raghavan, Senior Partner (LKS) and Brijesh Kothary, Associate Partner (LKS)
The company secretary (CS) of Deccan Chronicle Holding Limited ('DCHL') was absolved by the Securities Appellate Tribunal ('SAT'), Mumbai, from the liability imposed by the Adjudicating Officer ('AO') of the Securities Exchange Board of India ('SEBI') on DCHL for misleading financial statements and information given by the company.
Earlier this year, SEBI had investigated the scrip of DCHL to ascertain if the company shares were fraudulently pledged without appropriate disclosures. From the investigation, it was specifically gleaned that the public announcement made in 2011 for buying back its equity shares had misled the investors/shareholders. Mr. Shankar filed an appeal before the SAT which examined the provisions of the 1956 Act under Section 68 and Section 77.
Section 68 provides that 'any person knowingly or recklessly makes a statement which is false, deceptive, or misleading he would be punishable with imprisonment for a term which may extend to five years or with fine or both’.
The tribunal also examined the provision laid under Section 215 (Authentication of balance sheet and profit and loss account) of the 1956 Act.
A company secretary is under no obligation to undertake utmost due diligence to check the veracity of the buyback offer before ascribing his signatures to the same. Once the balance sheet or profit and loss account are approved by the Board of Directors, the role of a company secretary in signing them is merely Administrative in nature.
NCLT earlier this year in Technology Frontiers (India) Private Limited v. Global Sports Commerce Pte Ltd & Ors. took an alternative stance and held that a company Secretary is a 'Watchdog of protecting the Principles of Corporate Governance.
Audio Source: An article published on the LKS website in November 2022
Company Secretary whether liable for misleading financial information given by a company | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Author: Manan Chhabra, Senior Associate (LKS)
In the context of dividend income of French and Netherlands shareholders, the applicability of MFN clause has been a subject matter of dispute between the taxpayers and the Revenue authorities. The taxpayers have argued that MFN clause is applicable on dividend income received by Netherlands and French shareholders, and as a result, the dividend income is taxable in India at the rate of 5% (provided in tax treaty with Slovenia) instead of the higher rate of 10% provided in respective treaties.
The High Court of Delhi has decided the above matter in favour of the taxpayers. The Revenue authorities have preferred SLP against said Orders which is pending for consideration before the Supreme Court. The Revenue authorities have also clarified their stance by issuing a circular.
In this podcast, the authors attempt to explain the controversy and the key arguments which in the authors’ view weigh in favour of both the taxpayer and the Revenue authorities.
The Ministry of Electronics and Information Technology (‘MEITY’) notified the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2022 on 28 October 2022 which introduces certain enhanced due diligence obligations for intermediaries, changes in timeline and grievance redressal procedures and constitution of grievance appellate committees. The Amendment appears to be along the same lines as the draft amendment released for consultation a few months earlier. In this podcast the authors are discussing about the key amendments.
Audio Source:An article published on the LKS website in November 2022
https://www.lakshmisri.com/insights/articles/amendment-to-the-intermediary-guidelines-increased-due-diligence-and-grievance-redressal/
Author: Prashant Phillips, Partner (LKS) and Sameer Avasarala, Senior Associate (LKS)
Voice:Yashraj Chauhan, Associate (LKS)
The outbreak of the war in Ukraine has brought into focus the use of sanctions as a tool by Western countries to punish Russia and Russian entities. While the use of sanctions as a tool to achieve foreign policy and military objectives is well known, Indian businesses are less aware of the implications of Western unilateral sanctions for dealing with sanctioned countries and sanctioned entities. After providing an introduction to the origin and nature of sanctions, this article also provides an overview of the legal framework of Western unilateral sanctions and their extra-territorial operation with the objective of sensitizing Indian businesses.
Audio Source: An article published on the LKS website in October 2022
Beware of sharks in the water – Navigating trade in a world of sanctions
Author: Jayant Raghu Ram, Principal Associate (LKS)
Voice: Yashraj Chauhan, Associate (LKS)
The tax treaties entered between India and other countries aims to avoid double taxation of income in the hands of a person (taxable in multiple countries) by providing him with an option to claim credit of the tax paid in a foreign country (FTC) against his tax liability in India. Rule 128 of the IT Rules provides that FTC to be allowed in India would be equivalent to the lower of the tax payable on a foreign income in India and in that foreign country.Now, taking benefit from the language of the articles pertaining to FTC in some of the tax treaties, taxpayers have contended that the entire tax paid in the foreign country should be allowed as FTC in India without restricting it to income-tax payable in India. This view has been upheld by the Hon'ble Karnataka High Court in the case of Wipro Ltd. Vs DCIT: [2016] 382 ITR 179 (Kar) while interpreting India -USA DTAA. However, many courts have taken a divergent view.
This podcast discusses and understand the dispute on this issue and analyse the divergent views taken by various courts with a hope that a much-needed conclusion is provided by the Hon’ble Supreme Court.
Audio Source: https://www.lakshmisri.com/insights/articles/a-quandary-of-claim-of-foreign-tax-credit/
Authors: Sanjhi Agarwal Snehal Shukla
Can trademark infringement be established in cases where recycled bottles with the trademark of one party embossed on such bottles are used by the other party for the sale of their goods? This issue was discussed by the Delhi High Court in the recent case, Anheuser-Busch LLC v. Mr. Surjeet Lal and Anr. decided on March 14, 2022. In this case, the Defendants were using the bottles of the plaintiff bearing their trademark BUDWEISER embossed on such bottles after recycling and relabeling them with their own trademarks BLACK FORT and POWER COOL to sell their own beer. The Court such an act of the Defendant for the purpose of sale of their own products was likely to cause confusion as to its source among the consumers, resulting in the Defendant’s products likely to be confused as that of the Plaintiff’s. The Court held that all the Plaintiff’s registered trade mark ‘BUDWEISER’ was being used by the Defendants who were not its registered proprietor and were also not entitled to permissive use in relation to their own beer. Such use would cause irreparable loss to the Plaintiff and dilution of its goodwill and reputation. Therefore, it was held that such sale resulted in infringement and passing off and the Court granted a permanent injunction in favour of the Plaintiff henceforth restraining them from using, manufacturing or selling their products under the mark ‘BUDWEISER', even in recycled bottles, or in any manner whatsoever, in respect of beer manufactured and sold by the Defendants.
Audio Source: An article published on the LKS website in October 2022
https://www.lakshmisri.com/insights/articles/recycle-with-care/
Author: Pulkit Doger, Niharika Tiwari
Telecommunications Law in India is currently governed by the Telegraph Act, Wireless Telegraphy Act and various licenses issued by Department of Telecommunications. Recently, the Government released the Draft Indian Telecommunication Bill, 2022 which proposed a renewed and future-ready framework governing the sector and provision of telecommunications services. This article discusses the expanded definition of telecom services, easing of certain controls around mergers, acquisitions and insolvency of licensees, provision of legal recognition to right-of-way for telecom infrastructure and retention of core features around exclusive privilege and licensing regime. It also discusses key changes, retentions and powers in the context of interception, monitoring, unsolicited communications and interactions between Government agencies as sectoral regulators.
Audio Source: An article published on the LKS website in September 2022
https://www.lakshmisri.com/insights/articles/draft-telecommunications-bill-an-explainer/#
Author: Prashant Phillips, Sameer Avasarala
Telecommunications Law in India is currently governed by the Telegraph Act, Wireless Telegraphy Act and various licenses issued by Department of Telecommunications. Recently, the Government released the Draft Indian Telecommunication Bill, 2022 which proposed a renewed and future-ready framework governing the sector and provision of telecommunications services. This podcast discusses the expanded definition of telecom services, easing of certain controls around mergers, acquisitions and insolvency of licensees, provision of legal recognition to right-of-way for telecom infrastructure and retention of core features around exclusive privilege and licensing regime. It also discusses key changes, retentions and powers in the context of interception, monitoring, unsolicited communications and interactions between Government agencies as sectoral regulators.
Audio Source: An article published on the LKS website in September 2022
https://www.lakshmisri.com/insights/articles/powers-of-central-government-in-imposing-trade-remedial-measures/
Author: Utkarsh Khandelwal, Associate
Voice: Sahana Rajkumar
Focusing on the exporters’ obligations upon non-realization of export payments from erring foreign importers, this article discusses at length the legal and other remedies available with the exporters where the export transactions are not secured in any manner. The article in this regard analyses the civil remedies, remedy through alternative dispute resolution mechanism, remedy through Directorate General of Foreign Trade, and remedy by filing suit against the erring foreign importers in the subject foreign country. Further, since the non-realization/ repatriation of export proceeds is considered a contravention, the options like, representation before the Authorised Dealer Bank and/ or the RBI, write-off and compounding, under the FEMA laws have also been discussed here.
Audio Source : An article published on the LKS website in August 2022
https://www.lakshmisri.com/insights/articles/payment-recovery-mechanism-against-erring-foreign-importers/
Authors: Aman Gupta, Associate (LKS)
Voice : Anushka Verma, Associate (LKS)
The Income-tax Act, 1961 seeks to levy tax on a non-resident (including a foreign company) only on that income which accrues or arises or is received in India. The Act also requires every company (including a foreign company) to furnish an annual return of income. In this background, one of the issues which has been of wide interest and contemplation is, whether a foreign company is liable to file an annual return of income in India, when there is income accruing or arising in India which is not liable to tax in India either on account of an exemption under the Act or under the Tax Treaty. This Article analyses the two possible views in the said factual scenarios.
Audio Source : An article published on the LKS website in August 2022
https://www.lakshmisri.com/insights/articles/foreign-companies-obligation-to-file-tax-return-in-india/
Authors: Neha Sharma, Principal Associate (LKS)
Voice : Yashraj Chauhan, Associate (LKS)
The recently announced Indo-Pacific Economic Framework (IPEF) includes commitments on four pillars, one of which relates to building an inclusive, free and fair trade in digital markets, also on free cross-border data flow. India decided against engaging on the fourth pillar of the IPEF at the moment, waiting for emerging contours and owing to ongoing process of firming up digital framework laws. The article discusses existing and forthcoming laws on data protections, judicial precedents and reports with specific emphasis on cross-border transfer conditions in light of the importance that trade agreements relating to digital economies such as IPEF accord to free flow of information, while protecting individual privacy.
Audio Source : An article published on the LKS website in August 2022
https://www.lakshmisri.com/insights/articles/indo-pacific-economic-framework-and-future-of-cross-border-data-flows/#
Authors: Prashant Phillips, Partner (LKS), Sameer Avasarala, Senior Associate (LKS)
Voice : Dikshita Damodaran, Senior Associate (LKS)
The Government is set to revamp the landscape of information technology law in India through the introduction of the Digital India Act("DIA") which would replace the Information Technology Act, 2000. While the DIA is proposed to be a comprehensive framework which will cover different aspects of digital space including modern technologies like Artificial Intelligence and Internet of Things, it remains to be seen, how the government shapes this legislation in times to come. Amidst reports that other pieces in the technology law framework could include a Data Protection Bill which will deal with protecting privacy of individuals in digital space and propose a data protection framework, this podcast highlights what's expected as part of these legislations, and the focal points of what these legislations should address.
Competition Regulators try to restrict practices such as exclusive arrangements or refusals to deal with certain parties, as they may be anti-competitive in nature. This is often seen as interference with the commercial wisdom and autonomy of running a businesses. In this podcast, we will look at this conflict in closer detail, in light of CCI's recent judgements in two similar cases against Britannia & Parle, discussing the objectivity of selective distribution by enterprises as part of their right to freedom of trade.
Due to periodical amendments, the provisions relating to levy of interest under GST has been the subject matter of varied interpretations. Recently, the Central Goods and Services Tax Rules, 2017 (‘CGST Rules’) have been amended vide the Amendment Rules, 2022 to introduce a new Rule 88B, retrospectively with effect from 1 July 2017. The said rule provides for the manner of calculating interest on delayed payment of tax. In this Article, the authors intend to analyze the nuances of the new Rule 88B and the implications arising therefrom.
Audio Source : An article published on the LKS website in August 2022
https://www.lakshmisri.com/insights/articles/new-rule-88b-providing-for-manner-of-calculating-interest-susceptible-to-challenge/#
Authors: Sahana Rajkumar, Principal Associate (LKS), Balaji Sai Krishnan Principal Associate (LKS)
Voice : Sahana Rajkumar, Principal Associate (LKS)
The Question of whether amalgamation would per se invalidate an ‘assessment order’ issued in the name of the Transferor company was clarified by the Hon’ble Supreme Court in PCIT (Central) v. Mahagun Realtors (P) Ltd (2022 SCC Online SC 407). Through this article the Authors capture and reflect on the peculiar aspects of the Judgement.
The Income Tax Act, 1961 (‘IT Act’) provides for various benefits for trusts which are established for charitable or religious purposes and registered under the IT Act. Sections 11 and 12 of the IT Act are the substantive provisions for exemptions available to religious and charitable trusts. The exemption provided for under Sections 11 and 12 is, however, subject to certain restrictions provided under Section 13 of the said Act. This week’s podcast discusses the implications of Section 13 which purports to deny the exemption available in certain scenarios.
Audio Source : An article published on the LKS website in August 2022
https://www.lakshmisri.com/insights/articles/violation-of-section-13-of-the-income-tax-act-denial-of-entire-exemption-vs-partial-exemption/
Authors: Abhinov Vaidyanathan
Voice : Dikshita Damodaran
Under the Cenvat and Modvat regime as well as under various incentive schemes under the Customs law/FTDRA, there were unscrupulous persons, who created various firms/companies in the name of other individuals, existing or non-existing, for the purposes of undertaking fraudulent paper transactions. These companies/firms may be referred to as "dummy companies/firms." Invoices were made in these companies' names under the Cenvat and Modvat schemes to transfer duty and tax credits without paying the associated tariffs and taxes to the government. This week's podcast talks about different scenarios and punishments for such offences.
Audio Source: An article published on the LKS website in July 2022
https://www.lakshmisri.com/insights/articles/arrest-of-perpetrators-for-fraudulent-passing-and-availing-itc-in-gst-some-issues/
Authors: Atul Gupta, Partner (LKS)
https://www.lakshmisri.com/
Despite not being a party to WTO’s Agreement on Government Procurement, India agreed for commitments in government procurement in the India-UAE Comprehensive Economic Partnership Agreement. This Podcast discusses the features of chapter 10 of the CEPA, benefits of inclusion, how India has safeguarded its interest in negotiations, the aspects that are yet to be negotiated and the impact of such incorporations on India’s current and future FTAs.
Audio Source: An article published on the LKS website in July 2022
https://www.lakshmisri.com/insights/articles/opening-market-access-in-government-procurement-through-india-uae-fta/
Authors : Aayush Rastogi, Associate ( LKS) ; and Ashutosh Arvind Kumar, Associate (LKS)
Voice: Dikshita Damodaran
https://www.lakshmisri.com/
Special Economic Zones (‘SEZ’) were introduced with an intent to drive economic growth along with quality infrastructure complemented by attractive fiscal package. Initially introduced in the form of SEZ Policy in 2000, the scheme was subsequently formalised in the form of SEZ Act, 2005 (‘SEZ Act’). SEZ has, in today’s world, become a very familiar terminology to the larger public/ layman because of growing interest of the public in tax debates and economic development of the country. This week's podcast talks about the eligibility to claim deduction under income-tax post business re-structuring that impacts SEZ developers and entrepreneurs.
Audio Source :An article published on the LKS website in July 2022https://www.lakshmisri.com/insights/articles/deduction-under-10aa-benefit-available-even-after-sunset-date/#
Authors: Karanjot Singh, Joint Partner (LKS) and; Parvathy Kartha, Principal Associate (LKS)
Voice: Anushka Verma
https://www.lakshmisri.com/
This week's podcast talks about the dilemma in affording protection to single colour trademarks in India. The authors discuss the protection granted to single-colour trademarks across various jurisdictions by taking the example of the famed red-soled Louboutin shoes. Further, the dissenting views of the Indian judiciary have also been discussed. Lastly, the authors opine on the criteria on which single-colour trademarks can be protected in India.
Audio Source: An Article Published on LKS Website on 18th July 2022 Single colour trademarks – A ‘grey’ area | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Author : Anushka Verma, Associate(LKS); Rajalakshmi R, Partner (LKS)
Voice: Anushka Verma, Associate(LKS)
https://www.lakshmisri.com/
The Competition Commission of India (“CCI”) in recent years, has become a vigorous regulator. Bid-rigging in public procurement is one of the areas where the CCI has consistently investigated and penalized enterprises in the past decade. This podcast explains the concept of bid-rigging, the different types of bid-rigging practices, and how jurisprudence has evolved in this area of economic activity.
Audio Source: An article published on the LKS website in July 2022 https://www.lakshmisri.com/insights/articles/bid-rigging-in-public-procurement-an-indian-perspective/#
Authors: Neelambera Sandeepan, Joint Partner (LKS); and Amruta Pradhan, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
https://www.lakshmisri.com/
The World Trade Organization (‘WTO’) concluded the 12th Ministerial Conference (‘MC 12’) in Geneva last month (June 2022). MC 12 has achieved certain significant success in delivering key outcomes. India has played a key role in defending the interests of the developing world and saving the WTO from the risk of irrelevance. This week’s podcast provides a broad analytical overview of the key contents of the Geneva Package.
Audio Source: An article published on the LKS website in June 2022 https://www.lakshmisri.com/insights/articles/notes-from-the-wto-s-12th-ministerial-conference-india-saves-the-day/#
Author: Jayant Raghu Ram, Principal Associate (LKS)
Voice: Disha Agarwal, Senior Executive - PR & Corporate Communications (LKS)
www.lakshmisri.com
The podcast focuses on and discusses the major changes in relation to the Contract Labour regime under the new ‘The Occupational Safety, Health, and Working Conditions Code, 2020’ (OSHW Code).
Audio Source: An article published on the LKS website in June 2022 https://www.lakshmisri.com/insights/articles/contract-labour-under-the-new-regime-an-overview/#
Author: Manan Chhabra, Sr. Associate (LKS)
Voice: Disha Agarwal, Senior Executive - PR & Corporate Communications (LKS)
www.lakshmisri.com
This week’s podcast talks about the recently released draft amendment by the Ministry of Electronics & Information Technology (‘MEITY’) to the Information Technology Rules, 2021 for public consultation. The Draft Amendment proposes to bring about certain changes to the due diligence requirements to be followed by intermediaries, grievance redressal mechanism, timelines for responding to grievances, and proposes the constitution of GRAC by the Central Government.
Audio Source: An article published on the LKS website in June 2022 https://www.lakshmisri.com/insights/articles/amendment-to-intermediaries-guidelines/#
Authors: Prashant Phillips, Partner (LKS), Sameer Avasarala, Sr. Associate (LKS), and Gaurav Tiwari, Associate (LKS)
Voice: Disha Agarwal, Senior Executive - PR & Corporate Communications (LKS)
www.lakshmisri.com
Recently, the Supreme Court in Apex Laboratories (P.) Ltd. finally settled the controversy regarding the allowance of expenditure incurred by pharmaceutical companies on the gifting of freebies to doctors under the IT Act. By holding that the practice is opposed to the MCI Regulations and consequently to public policy, this decision has created new challenges for the pharmaceutical and allied health sector companies.
Audio Source: An article published on the LKS website in May 2022 https://www.lakshmisri.com/insights/articles/apex-laboratories-a-bitter-pill-to-swallow-for-the-healthcare-sector/
Author: Tanmay Bhatnagar, Sr. Associate (LKS)
Voice: Anushka Verma, Associate (LKS)
www.lakshmisri.com
This podcast traces the history behind the introduction of the proviso to Section 50(1) with a specific focus on the jurisprudence that has developed, the GST Council decisions, and the implication of the recent ruling of the Hon’ble Madras High Court in Srinivasa Stampings.
Audio Source: An article published on the LKS website in May 2022 https://www.lakshmisri.com/insights/articles/interest-on-delayed-payment-of-tax-the-saga-continues/#
Authors: Sahana Rajkumar, , Principal Associate (LKS), and Balaji Sai Krishnan, Sr. Associate (LKS)
Voice: Sahana Rajkumar, , Principal Associate (LKS)
www.lakshmisri.com
The podcast broadly provides an advisory perspective of comprehensive trade agreements for trade and industry in India. It also discusses India’s previous and recent comprehensive trade agreements.
Audio Source: An article published on the LKS website in May 2022 https://www.lakshmisri.com/insights/articles/india-and-its-recent-comprehensive-trade-agreements-attempting-success-for-market-access/
Authors: Devinder Bagia, Partner (LKS) Jayant Raghu Ram, Principal Associate (LKS)
Voice: Gunmeher Juneja, Principal Associate (LKS)
www.lakshmisri.com
This week’s podcast discusses the case opined by the Review Board of the United States Copyright Office (‘Board’) on the registrability of works generated by Artificial Intelligence (‘AI’). The Board reiterated the position under the United States copyright law that human intervention is necessary for a work to qualify for copyright registration. Additionally, the podcast also discusses, in brief, the position of copyrightability of AI-generated work in India and China.
Audio Source: An article published on the LKS website in May 2022 https://www.lakshmisri.com/insights/articles/copyright-authorship-to-artificial-intelligence-who-owns-it/#
Authors: Rajalakshmi R, Partner (LKS), and Anushka Verma, Associate (LKS)
Voice: Anushka Verma, Associate (LKS)
www.lakshmisri.com
This podcast seeks to provide an insight on the amendments made under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (‘ICDR Regulations’) with respect to changes and obligations that the IPO bound companies have to comply with while filing the Draft Red Herring Prospectuses (‘DRHP’).
Audio Source: An article published on the LKS website in April 2022 https://www.lakshmisri.com/insights/articles/sebi-tweaks-ipo-norms-a-cautioned-approach/#
Authors: Sudish Sharma, Executive Partner (LKS), and Sonali Srivastava, Sr. Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
www.lakshmisri.com
This week’s podcast discusses the significance of ‘appointed date’, ‘effective date’, and various clauses of the scheme of amalgamation/ merger/ demerger in the light of indirect tax laws.
Audio Source: An article published on the LKS website in April 2022 https://www.lakshmisri.com/insights/articles/discharge-of-indirect-tax-liabilities-and-procedural-compliance-during-intervening-period-in-case-of-amalgamation/#
Author: Payal Nahar, Joint Partner (LKS)
Voice: Vrinda Maheshwari, Lead – Business Planning and Operations (LKS)
www.lakshmisri.com
This week’s podcast talks about India’s plans to tax cryptocurrency. Despite floating the idea of introducing a separate Bill called ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’, to lay down a framework for regulating transactions involving cryptocurrency, the Government introduced an amendment to the Income-tax Act, 1961 instead, to tax cryptocurrency and other ‘virtual digital assets’.
Audio Source: An article published on the LKS website in April 2022 https://www.lakshmisri.com/insights/articles/crypto-taxation-in-the-finance-act-2022-the-indian-conundrum/#
Author: Ushashi Datta, Associate (LKS)
Voice: Ena Chakravorty, Head- PR & Corporate Communications (LKS)
www.lakshmisri.com
The article analyses the order of interim injunction granted by the Delhi High Court in the case of Sotefin SA v. Indraprastha Cancer Society And Research Center & Ors. The Court applied the concept of Doctrine of Equivalence to arrive at the finding of a prima facie case of infringement and dismissed the exemption of parallel import asserted by the Defendants. The article also analyses the importance of claim construction in patent infringement matters and accordingly analyses the facts of this case.
Audio Source: An article published on the LKS website in March 2021 https://www.lakshmisri.com/insights/articles/delhi-high-court-expounds-on-doctrine-of-equivalence-and-parallel-import-under-patent-law/#
Author: Vindhya S Mani, Joint Partner (LKS)
Voice: Supriti Narayanan, Joint Partner (LKS)
www.lakshmisri.com
Mergers and acquisitions in India reached an all-time high in the year 2021. Last year also marks a decade of enforcement of the merger control regime in India. This week’s podcast analyses the M&A highlights of the year gone by.
Audio Source: An article published on the LKS website in April 2022 https://www.lakshmisri.com/insights/articles/merger-control-in-india-a-review-of-the-year-2021/#
Author: Neelambera Sandeepan, Joint Partner (LKS)
Voice: Nitum Jain, Principal Associate (LKS)
www.lakshmisri.com
Sunset reviews require the domestic industry to prove likelihood of continuation of dumping and injury upon cessation of anti-dumping duty. This podcast discusses the recent CESTAT jurisprudence on the standard of evidence that is required to demonstrate such likelihood.
Audio Source: An article published on the LKS website in March 2022 https://www.lakshmisri.com/insights/articles/standard-of-review-in-sunset-review-investigation-cestat-shines-new-light/#
Author: Devinder Bagia, Partner (LKS), and Jayant Raghu Ram, Principal Associate (LKS)
Voice: Vrinda Maheshwari, Lead – Business Planning and Operations (LKS)
www.lakshmisri.com
India is a party to a recent Joint Declaration made by ten countries to recognize privacy freedoms and guarantees, aiming for closer cooperation on promoting high privacy standards and convergence of data regimes. This podcast discusses the joint declaration in light of cross-border conditions and data subject rights under forthcoming data protection law and its impact on data transfer impact assessments in EU-to-India data transfers.
Audio Source: An article published on the LKS website in February 2022 https://www.lakshmisri.com/insights/articles/evolving-cooperation-on-facilitating-easier-cross-border-data-flows/#
Authors: Sameer Avasarala, Sr. Associate (LKS), and Prashant Phillips, Partner (LKS)
Voice: Ena Chakravorty Head- PR & Corporate Communications (LKS)
www.lakshmisri.com
This podcast discusses key aspects of the verdict pronounced by the WTO panel on sugar subsidies allegedly granted and maintained by India. The panel proceedings were initiated subsequent to three separate complaints initiated by Brazil, Australia, and Guatemala against India.
Audio Source: An article published on the LKS website in February 2022 https://www.lakshmisri.com/insights/articles/india-sugar-subsidies-a-bitter-verdict-at-the-wto/#
Author: Jayant Raghu Ram, Principal Associate (LKS)
Voice: Vrinda Maheshwari, Lead – Business Planning and Operations (LKS)
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The podcast analyses a ‘condition’ for availing tax holidays under various provisions of the Income-tax Act, which provides that new businesses must ‘not be formed by splitting up, or reconstruction, of a business already in existence.
Audio Source: An article published on the LKS website in February 2022 https://www.lakshmisri.com/insights/articles/dilemma-of-formation-by-reconstruction-or-splitting-up-of-existing-business-a-deterrent-to-income-tax-benefits/#
Authors: Prachi Goel, Sr. Associate (LKS), and Aastik Ahuja, Associate (LKS)
Voice: Ena Chakravorty, Head- PR & Corporate Communications (LKS)
www.lakshmisri.com
India has seen rapid acceptance of crypto or digital currencies for trading and investment purposes. But the absence of a legal framework has created a bottleneck in the innovation and adoption of blockchain technology and cryptocurrencies in the country. This podcast discusses some taxation related queries highlighted in the recent Finance Bill, 2022
Audio Source: An article published on the LKS website in February 2022 https://www.lakshmisri.com/insights/articles/taxing-of-crypto-gains-ushering-in-a-new-era-of-regulation/#
Author: Kumar Panda, Sr. Associate (LKS)
Voice: Nitum Jain, Principal Associate (LKS)
www.lakshmisri.com
The year 2021 has been quite enriching for the competition law regime in India with multiple investigations ordered into varied sectors and commendable changes adopted by the CCI due to the COVID-19 pandemic, such as e-filings, virtual mode of hearings, etc. This podcast briefly discusses the major highlights of the year gone by.
Audio Source: An article published on the LKS website in January 2022 https://www.lakshmisri.com/insights/articles/competition-law-in-india-2021-a-year-in-review/#
Authors: Charanya Lakshmikumaran, Partner (LKS); Neelambera Sandeepan, Joint Partner (LKS); and Prathamesh Pareek, Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This podcast compares the scope of source rule of taxation of FTS, royalty, and interest under Indian domestic law and tax treaties.
Audio Source: An article published in the International Tax Review in February 2022 https://www.internationaltaxreview.com/article/b1wsqzxdjgb3l5/source-taxation-of-fees-for-technical-services-indian-domestic-law-v-tax-treaties
Authors: S Vasudevan, Executive Partner (LKS); and Harshit Khurana, Principal Associate (LKS)
Voice: Ena Chakravorty, Head- PR & Corporate Communications (LKS)
www.lakshmisri.com
The new amendments proposed by Budget 2022 to Section 38 of the CGST Act seek to introduce new restrictions on credit availment by the recipient. This podcast focuses on the scope of these restrictions and what compliance thereof means for recipients.
Audio Source: An article published on the Bar and Bench website in February 2021 https://www.barandbench.com/view-point/the-viewpoint-budget-2022-impact-of-proposed-gst-amendments-on-credit-availment
Authors: Anshul Mathur, Partner (LKS), and Nitum Jain, Principal Associate (LKS)
Voice: Nitum Jain, Principal Associate (LKS)
www.lakshmisri.com
This podcast discusses the Supreme Court's decision on the classification of relays triggered a reaction from the automobile industry and inturn, the CBIC. Meandering through the HSN, contemporary decisions on classification, the primary use test, and also on the nuance of classification being super-specific to the commodity sought to be classified, the CBIC's Circular is partly a response to trade representations to contextualise Westinghouse Saxby and partly a missive to field formations.
Audio Source: An article published on the LKS website in January 2021 https://www.lakshmisri.com/insights/articles/westinghouse-saxby-farmer-ltd-the-saga-continues/
Authors: Sai Prashanth, Joint Partner (LKS), and Krithika Jaganathan, Principal Associate (LKS)
Voice: Ena Chakravorty, Head- PR & Corporate Communications (LKS)
www.lakshmisri.com
Validity of reassessment notices issued under the old regime after the implementation of new reassessment provisions has been the subject matter of litigation recently. The Podcast summarizes the findings of different High Courts and highlights the correct position of law on the said issue.
Audio Source: An article published on the LKS website in January 2021 https://www.lakshmisri.com/insights/articles/reassessment-notices-issued-under-old-regime-an-attempt-to-revive-a-dead-law/
Author: Devashish Jain, Sr. Associate (LKS)
Voice: Ena Chakravorty, Head- PR & Corporate Communications (LKS)
www.lakshmisri.com
The podcast briefly discusses the decision and implications of the judgment rendered by the CESTAT against the Finance Ministry’s decision rejecting the recommendations of DGTR to impose anti-dumping duty on imports of Choline Chloride originating in or exported from China PR.
Audio Source: An article published on the LKS website in December 2021 https://www.lakshmisri.com/insights/articles/finance-ministry-s-decision-not-to-impose-anti-dumping-duty-blurred-lines/#
Author: Aayush Rastogi, Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This podcast talks about the change brought about by the Finance Act of 2021, that seeks to tax notional interest accruing on employee’s contribution along with the manner of such computation. While examining the various components of a typical provident fund balance, the glaring lacunae as to specific provisions in the Income Tax Act, 1961 become apparent. It is argued that the absence of charging provision in all likelihood would result in it being taxed as ‘Income from Other Sources’, and additionally, the absence of machinery provisions would lead to no clear TDS liability. Reliance is placed on the landmark ruling in CIT v. LW Russel to show that regardless of monthly or annual computation of interest, it becomes taxable in the hands of the employee only when the same actually becomes due and payable to the employee upon attaining the age of superannuation.
Audio Source: An article published on the LKS website in December 2021 https://www.lakshmisri.com/insights/articles/taxability-of-interest-on-provident-funds/
Author: Samyak Navedia, Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This week’s podcast focuses on the proposed amendment to the Biological Diversity Act, 2002 by introducing the recent Bill in the Lok Sabha and discusses the implications for Indian entities.
Audio Source: An article published in the Bar & Bench in December 2021 https://www.barandbench.com/view-point/biological-diversity-amendment-bill-2021-implications-for-indian-entities
Authors: Malathi Lakshmikumaran, Executive Director (LKS), and Vindhya S Mani, Joint Partner (LKS)
Voice: Vindhya S Mani, Joint Partner (LKS)
www.lakshmisri.com
This podcast talks about the recent time’s mechanism of transferring the immovable property under the Joint Development Agreement (JDA). It also analysis the disputes with respect to determining the year of taxability of capital gains arising out of the transfer of immovable property considering the provisions of the Income Tax Act, 1961.
Audio Source: An article published on the LKS website in November 2021 https://www.lakshmisri.com/insights/articles/determination-of-year-of-taxability-for-transfers-arising-out-of-registered-joint-development-agreements/#
Author: Abhinov Vaidyanathan, Sr. Associate (LKS)
Voice: Gunmeher Juneja, Principal Associate (LKS)
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This week’s podcast gives a brief overview of the anti-absorption provisions that have been announced by the Finance Minister in the Budget 2021-22.
Audio Source: An article published on the LKS website in November 2021 https://www.lakshmisri.com/insights/articles/anti-absorption-provisions-new-tool-for-strengthening-trade-remedial-measures/#
Author: Aayush Rastogi, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
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This week’s podcast discusses the proposed amendments to the 2019 draft of the Personal Data Protection Bill by the joint committee of the Parliament.
Audio Source: An article published in the Financial Express in December 2021 https://www.financialexpress.com/opinion/personal-data-protection-bill-what-are-the-causes-for-concern/2390058/
Author: Prashant Phillips, Partner (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This podcast discusses the recent case of cartelization against the bear companies and the All India Brewers’ Association by the Competition Commission of India (“CCI”).
Audio Source: An article published on the LKS website in November 2021 https://www.lakshmisri.com/insights/articles/leniency-dawn-raid-penalty-a-case-of-cartelization-in-the-beer-market/#
Authors: Neelambera Sandeepan, Joint Partner (LKS), and Barkha Dwivedi, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
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This week’s podcast explains how taxpayers can mitigate litigation by being vigilant and proactive during the investigation stage.
Audio Source: An article published in ITR in December 2021 https://www.internationaltaxreview.com/article/b1vq53678y9cx9/being-investigated-by-indias-tax-department-know-your-rights-and-options
Authors: Raghavan Ramabadran, Executive Partner (LKS), Sahana Rajkumar, Principal Associate (LKS), and Derlene Joshna, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
www.lakshmisri.com
GST applicability on Extra Neutral Alcohol (ENA) has been a raging issue since its introduction. This podcast discusses whether levying VAT on ENA can be considered as a correct practice or GST is leviable on the supply of ENA?
Audio Source: An article published in BusinessToday.in in November 2021 https://www.businesstoday.in/opinion/columns/story/conundrum-around-taxability-of-ena-under-gst-312972-2021-11-22
Authors: Anshul Mathur, Partner (LKS), and Sangitha, Consultant (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This week’s podcast talks about the taxability of second-hand goods under the 'Margin Scheme' and un-settled issues revolving around it.
Audio Source: An article published in Lexology in November 2021 https://www.lexology.com/library/detail.aspx?g=4ae697e7-3f0f-4387-9cf4-876639e82a41
Authors: Surbhi Premi, Joint Partner (LKS), and Kundan Kumar, Sr. Associate (LKS)
Voice: Rishabh Chopra, Joint Partner (LKS)
www.lakshmisri.com
RBI has issued the Master Directions on Prepaid Payment Instruments (‘MD PPI’) recently to introduce significant changes to the existing legal regime pertaining to the usage and classification of PPIs and mandating its interoperability with other payment systems.
Audio Source: An article published on LKS website in September 2021 https://www.lakshmisri.com/insights/articles/prepaid-instruments-an-analysis-of-master-directions-issued-by-rbi/#
Author: Manan Chhabra, Sr. Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This podcast discusses the recent judgement by the Delhi High Court to restrain Best Crop Science LLP and NATCO Pharma Ltd. from launching Chlorantraniliprole (‘CTPR’). The court has declined permission to manufacture and sell CTPR during the pendency of the suit.
Audio Source: An article published on LKS website in October 2021 https://www.lakshmisri.com/insights/articles/patents-delhi-high-court-rules-on-disclosure-vis-a-vis-invalidity-on-ground-of-obviousness/#
Authors: Malathi Lakshmikumaran, Executive Director (LKS), and Archana Viswanathan, Principal Associate (LKS)
Voice: Gunmeher Juneja, Principal Associate (LKS)
www.lakshmisri.com
This podcast talks about the amendments in tax residency law for NRIs/PIOs in India and describes the new concept of ‘Deemed Resident’. The podcast also discusses how individuals will be taxed during FY2021.
Audio Source: An article published in The Economic Times in October 2021 https://economictimes.indiatimes.com/wealth/tax/how-nris-stuck-due-to-pandemic-will-be-taxed-in-india-for-fy-2020-21/articleshow/86966087.cms?from=mdr
Authors: S. Vasudevan, Executive Partner (LKS), and Bharathi Krishnaprasad, Joint Partner (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
www.lakshmisri.com
This podcast discusses a recent case relating to the Discount Control Policy (“DCP”) of a leading automobile manufacturer. The Competition Commission of India found the DCP to be anti-competitive and imposed a fine of INR 200 crore for violation of the Competition Act in August 2021.
Audio Source: An article published on the LKS website in September 2021 https://www.lakshmisri.com/insights/articles/vertical-restraints-a-competition-analysis-of-car-dealer-discount-policy/#
Author: Charanya Lakshmikumaran, Partner (LKS), Neelambera Sandeepan, Joint Partner (LKS), and Prathamesh Pareek, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
www.lakshmisri.com
This podcast discusses the numerous GST issues that may arise on the distribution of assets to a partner at the time of retirement from a partnership firm. It also highlights the relationship between a partner and the partnership firm and the nature of the transaction of asset distribution to the retiring partner.
Audio Source: An article published on the LKS website in September 2021 https://www.lakshmisri.com/insights/articles/asset-distribution-on-retirement-of-partners-a-transaction-with-multiple-gst-issues/#
Author: Arushi Jain, Principal Associate (LKS)
Voice: Gunmeher Juneja, Principal Associate (LKS)
www.lakshmisri.com
This podcast focuses on the Corporate Social Responsibility (CSR) activities undertaken or proposed to be undertaken by corporates, in order to meet their statutory obligations under the Companies Act, 2013, and also discusses exclusions as per the CSR policy rules.
Audio Source: An article published in the Legal Era in August 2021 https://www.legaleraonline.com/take-on-board/corporate-social-responsibility-exclusions-from-statutory-obligation-769695?infinitescroll=1
Authors: Sudish Sharma, Executive Partner (LKS), and Apeksha Bansal, Principal Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This weeks’ podcast discusses states' obligations to comply with GST Council recommendations.
Audio Source: An article published in the Indian Business Law Journal in September 2021 https://law.asia/goods-and-services-tax-council/
Authors: Raghavan Ramabadran, Executive Partner (LKS), Rohan Muralidharan, Principal Associate (LKS), and Sahana Rajkumar, Principal Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This week’s podcast discusses the recent amendments to the Income-tax Act which have nullified the retrospective levy on indirect transfer of assets situated in India and the reasons which necessitated these amendments. It also talks about their potential impact in boosting investor confidence in India by providing some much-needed tax certainty.
Audio Source: An article published on the Business Today website in August 2021 https://www.businesstoday.in/opinion/columns/story/retro-tax-rollback-will-it-help-india-woo-foreign-investors-304762-2021-08-20
Authors: S. Vasudevan, Executive Partner (LKS), and Tanmay Bhatnagar, Senior Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
www.lakshmisri.com
This podcast talks about the issues related to the taxability of annuity received by the concessionaries from the Government/NHAI in the execution of road projects.
Audio Source: An article published on the Financial Express in July 2021 https://www.financialexpress.com/economy/gst-on-annuity-received-for-construction-of-roads-a-never-ending-chaos/2297660/
Authors: Satya Sai, Joint Partner (LKS), and Satish Gandla, Sr. Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
Investing in cryptocurrencies has gained momentum since the last year in India and everyone is intrigued by what digital currency holds for them. This week’s podcast describes Methods of acquiring cryptocurrency, and the taxes chargeable on the income from cryptocurrency.
Audio Source: An article published on the Tax India Online in August 2021 https://taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=41783
Authors: Ravi Raghavan, Sr. Partner (LKS), Parvathy R. Kartha, Sr. Associate (LKS), and Laksh Manocha, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
www.lakshmisri.com
This podcast describes the applicability of ‘UAS Rules, 2021’ on drones and discusses the potential issues under the Goods & Services Tax Law. A draft and a simplified version of the UAS Rules have been made available in the public domain and the same will replace the existing UAS Rules, 2021 in the near future.
Audio Source: An article published on the Legal Era in July 2021 https://www.legaleraonline.com/tax/rise-of-the-drones-potential-issues-under-the-gst-law-763763?infinitescroll=1
Authors: Lakshmi Ratna Kancherla, Joint Partner (LKS), and Mallows Priscilla P, Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
This week’s podcast discusses certain general aspects of the practice of investigating authorities in defining the scope of the ‘Product Under Consideration’ and identifying the product exclusions.
Audio Source: An article published on the LKS website in August 2021 https://www.lakshmisri.com/insights/articles/to-exclude-or-not-to-exclude-practice-on-product-exclusions/
Authors: Devinder Bagia, Joint Partner (LKS), and Jayant Raghu Ram, Principal Associate (LKS)
Voice: Gunmeher Juneja, Principal Associate (LKS)
www.lakshmisri.com
This podcast discusses the conflict between the two rules - ‘Rule of Anti-Dissection’ and ‘Rule of Dominant Feature’ under Sections 15 and 17 of the Trade Marks Act, 1999.
Audio Source: An article published on the LKS website in July 2021 https://www.lakshmisri.com/insights/articles/rule-of-anti-dissection-v-rule-of-dominant-feature-a-legal-conundrum/#
Authors: Pulkit Doger, Joint Partner (LKS), Anoop Verma, Associate (LKS), and Garima Raonta, Associate (LKS)
Voice: Neelambera Sandeepan, Joint Partner (LKS)
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This week’s podcast analyses select situations for highlighting the importance of drafting contracts with a proper tax clause.
Audio Source: An article published on the LKS website in July 2021 https://www.lakshmisri.com/insights/articles/shifting-the-burden-of-indirect-taxes-a-contract-conundrum/#
Authors: Sahana Rajkumar, Principal Associate (LKS), and Derlene Joshna, Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
www.lakshmisri.com
In the second wave of the Covid-19 pandemic, most of the companies have purchased oxygen concentrators to provide to their employees on a returnable basis. This podcast discusses whether the credit of the GST paid on oxygen concentrators given to employees on a returnable basis after use is available to the company and the requirement for clarity on the issue.
Audio Source: An article published in the Times of India in June 2021 https://timesofindia.indiatimes.com/blogs/voices/credit-on-oxygen-concentrators-given-to-employees-need-for-clarity/?source=app&frmapp=yes
Author: Rohini Mukherjee, Joint Partner (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
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This podcast reviews the draft amendment to the Consumer Protection (E-commerce) Rules, 2020 from the lens of competition law and provides insights into the effect they would have if implemented.
Audio Source: An article published in LKS website in July 2021 https://www.lakshmisri.com/insights/articles/draft-e-commerce-rules-blurring-the-lines-between-consumer-protection-and-competition-law/#
Author & Voice: Neelambera Sandeepan, Joint Partner (L&S)
www.lakshmisri.com
This week’s podcast examines the impact of key amendments to the SEBI (Investment Advisers) Regulations, 2013 (IA Regulations) on the FinTech sector and highlights some areas that need to be fine-tuned for the FinTech sector.
Audio Source: CLD Securities Law e-newsletter Vol XII by NUALS: https://nualsslcmn.wordpress.com/our-previous-editions-2/
Authors: – Amritha Salian, Partner (LKS); and Alimpan Chatterjee, Principal Associate (LKS)
Voice: Gunmeher Juneja, Principal Associate (LKS)
www.lakshmisri.com
This podcast discusses the verdict of the Supreme Court on the Directorate of Revenue Intelligence (DRI) in the Canon India case. The Supreme Court held that ‘DRI or any other investigation agency had no authority in law to issue an SCN under Section 28(4) of the Customs Act for recovery of duties’.
Audio Source: An article published by Financial Express in July 2021 https://www.financialexpress.com/opinion/defining-dris-turf-powers/2282325/
Authors: Viswanathan T, Principal Partner (L&S), and Rachit Jain, Partner (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
www.lakshmisri.com
Numerous corporates have extended their support by facilitating interim relief services during the global pandemic. This podcast discusses the legal position regarding the eligibility of companies to avail ITC for such activities as per GST law. It also talks about the recent notifications of various state governments in this regard and concludes on the way forward.
Audio Source: An article released by Outlook in June 2021 https://www.outlookindia.com/website/story/business-news-itc-on-goods-and-services-supplied-for-covid-19-unavailable/385503
Authors: Shubham Vijay, Principal Associate (L&S), Kapil Kumar Sharma, Partner (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This week’s podcast describes the implications of clause (viib) which was inserted u/s. 56(2) by the Finance Act, 2012 under the Income-tax Act, 1961 (‘IT Act’), in the context of investments made by a resident Indian in foreign companies.
Audio Source: An article released by Texsutra in May 2021 https://www.taxsutra.com/dt/experts-corner/foreign-companies-and-contours-angel-tax
Author: Ravi Sawana, Principal Associate (L&S)
Voice: Dhruv Matta, Principal Associate (L&S)
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This podcast analyses issues that impacted the Indian tax landscape due to COVID-induced lockdowns, and highlights the potential implications on taxpayers while also focusing on certain suggestions that could be executed at a policy level for grant of some relief.
Audio Source: An article released by Taxmann in its latest publication ‘Corporate Professionals Today 21 May– 4 June 2021’ Volume 51 https://www.taxmann.com/virtualbooks/journal/product/6829-Corporate-Professional-Today-May-29-4-June-,-2021-Volume-51%28Single-Issue%29
Authors: Sahana Rajkumar, Principal Associate (L&S); Vishvas Bharadwaj, Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
www.lakshmisri.com
This week’s podcast talks about the broad changes brought in by the Health and Working Conditions, 2020 with respect to contract labour.
Audio Source: An article by L&S published on the L&S website in May 2021: https://www.lakshmisri.com/insights/articles/contract-labour-new-dynamics-under-new-labour-code/#
Authors: Sudish Sharma, Executive Partner (L&S), and Apeksha Bansal, Principal Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
‘all Law’ – Our podcast channel has been featured in the list of ‘Top 20 podcasts for Corporate Law’ by Welp Magazine.
https://WelpMagazine.com/?p=18234
This podcast analyses the Pepsi Foods ruling relating to 'stay of demand', pronounced by the Supreme Court of India on 6th April 2021.
Audio Source: An article by L&S published on the ITR website in May 2021: https://www.internationaltaxreview.com/article/b1rxbmtk0bbdzc/supreme-court-of-india-stay-of-demand-ruling-brings-relief-to-taxpayers
Authors: R Raghavan, Executive Partner (L&S), and Bharathi Krishnaprasad, Principal Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This week’s podcast discusses De-minimis dumping margin, termination of anti-dumping investigation conducted by the Directorate General of Trade Remedies (‘DGTR’) in the case of Kim Tin MDF Joint Stock Company, Vietnam.
Audio Source: An article published on the L&S website in June 2021: https://www.lakshmisri.com/insights/articles/de-minimis-dumping-margin-termination-of-an-anti-dumping-investigation/#
Author: Harsh Mittal, Associate (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
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This podcast focuses on the further extension of limitation given by the Apex Court vide its latest order dated 27 March 2021, to its earlier Order dated 23 March 2020, in In Re: Cognizance for Extension of Limitation, Suo Moto Writ (Civil) No. 3 of 2020, due to the second wave of COVID-19.
Audio Source: An article published on the L&S website in May 2021: https://www.lakshmisri.com/insights/articles/extension-of-limitation-by-apex-court-due-to-second-wave-of-covid-19/#
Authors: Dinesh Babu Eedi, Joint Partner (L&S), and Manasa Tantravahi, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This week’s podcast discusses the recent study by the Competition Commission of India (“CCI”) into the Blockchain technology and issues related to this technology from a competition law perspective.
Audio Source: An article published on the L&S website in May 2021: https://www.lakshmisri.com/insights/articles/blockchain-technology-on-the-cci-s-radar/#
Authors: Neelambera Sandeepan, Joint Partner (L&S), and Shikhar Tyagi, Associate (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
www.lakshmisri.com
This week’s podcast focuses on the redesigned taxation upon exit from partnership firms by introduction of Section 9B and substitution of Section 45(4) in the Income-tax Act vide Finance Act 2021.
Audio Source: An article published on the L&S website in May 2021: https://www.lakshmisri.com/insights/articles/redesigned-taxation-upon-exit-from-partnership-firm-new-jeopardy-for-taxpayers/#
Authors: Harshit Khurana, Sr. Associate (L&S), and Devashish Jain, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This podcast discusses the judgment of Bombay High Court in the case of comparative advertisements of ‘Sebamed’ soap (of USV Private Limited) with Lux, Dove, and/or Pears soap (of Hindustan Unilever Limited)
Audio Source: An article published on the L&S website in April 2021: https://www.lakshmisri.com/insights/articles/comparative-advertising-of-soaps-no-violation-of-trademark-law-if-backed-by-science-bombay-high-court/#
Authors: Sudarshan Singh Shekhawat, Partner (L&S), and Ayushman Kheterpal, Consultant (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
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This week’s podcast highlights the benefits of using W&I insurance, and some of the key points to be considered while using W&I insurance in acquisition transactions.
Audio Source: An article published on the website of the International Law Office in March 2021: https://www.internationallawoffice.com/Newsletters/Corporate-FinanceMA/International/Lakshmikumaran-Sridharan/Warranty-and-indemnity-insurance-in-acquisition-transactions-hit-or-miss
Authors: Amritha Salian, Partner (L&S), and Alimpan Chatterjee, Principal Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
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This week’s podcast defines wages under the Employees Provident Fund & Miscellaneous Provisions Act, 1952.
Audio Source: An article published on the L&S website in April 2021: https://www.lakshmisri.com/insights/articles/definition-of-wages-confusion-worse-confounded/
Author: Noorul Hassan, Partner (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This week’s podcast discusses the proposed changes to the scheme of reassessment in the Income Tax Act, 1961 (“IT Act”).
Audio Source: An article published in the Times of India in February 2021: https://timesofindia.indiatimes.com/blogs/voices/reassessment-provisions-change-for-the-better/
Authors: Jyoti Arora, Joint Partner (L&S), and Sriram Vijayaraghavan, Principal Associate (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
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This week’s podcast defines the dichotomy prevalent amongst the judicial pronouncements on the aspect of 'slump sale vs. slump exchange' in terms of its origin, the resolution sought to be provided by legislature vide Finance Bill and its impact on the taxpayers.
Audio Source: An article published on the Taxmann website in February 2021: https://www.taxmann.com/research/direct-tax-laws/top-story/105010000000019143/slump-sale-vs-slump-exchange-end-of-controversy-experts-opinion
Authors: Jyoti Arora, Joint Partner (L&S), Prachi Goel, Sr. Associate (L&S), and Pragya Kaushik, Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
www.lakshmisri.com
In January, the Competition Commission of India (‘CCI’) released the study exploring the evolution of the Indian telecom sector and the present regulatory challenges. The CCI assessed the market dynamics and highlighted developments in the sector, leading to competition concerns in the present and foreseeable future. The week’s podcast describes those findings and key observations.
Audio Source: An article published in the L&S website in March 2021: https://www.lakshmisri.com/insights/articles/cci-s-market-study-into-the-telecom-sector-in-india-key-observations/
Authors: Neelambera Sandeepan, Joint Partner (L&S), and Shikhar Tyagi, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This week’s weeks podcast discusses the issues concerning retrospective domestic measures and international investment protection.
Audio Source: An article published in the India Business Law Journal in March 2021: https://law.asia/retrospective-domestic-measures-international-investment-protection/
Author: Puneeth Ganapathy, Principal Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
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This podcast throws light on acquiescence, a concept that every trademark owner must know and understand to remain cautious with respect to misuse of his/ her trademark by others. Acquiescence has been defined under the Trade Marks Act, 1999.
Audio Source: An article published on the L&S website in March 2021: https://lakshmisri.com/insights/articles/acquiescence-being-vigilant-and-not-blind-sided/
Authors: Pulkit Doger, Joint Partners (L&S); Raghav Sarda, Joint Partners (L&S); Sidharth Shahi, Sr. Associate (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
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The Finance Bill 2021 has proposed to amend the definition of ‘assets’ under Explanation 3 to Section 32(1) that ‘goodwill of a business or profession’ shall not be treated as an ‘intangible asset’ for the purposes of Section 32(1) of the IT Act. This week’s podcast shares some interesting issues pertaining to the depreciation on acquired goodwill.
Audio Source: An article published on the L&S website in March 2021: https://lakshmisri.com/insights/articles/goodwill-no-more-an-intangible-asset-some-interesting-issues/
Author: Abhinov Vaidyanathan, Associate (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
www.lakshmisri.com
To forbid the unethical use of social media platforms, the Ministry of Electronics and Information Technology (‘MeIT’) had recently strengthened the existing guidelines and notified the new guidelines under Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (‘IT Rules 2021’). This week’s podcast talks about the salient features of these guidelines and the shortcomings coupled with it.
Audio Source: An article published on the L&S website in March 2021: https://lakshmisri.com/insights/articles/strike-one-on-social-media-platforms-the-new-guidelines-and-what-they-mean/#
Authors: Dinesh Babu Eedi, Joint Partner (L&S), and Manasa Tantravahi, Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
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This week’s podcast discusses the details of the Faceless Penalty Scheme 2021, covering its features, procedure, and structure of the scheme. The Scheme has been amended by the Central Board of Direct Taxes (‘CBDT’), effective from 12 January 2021.
Audio Source: An article published on the L&S website in February 2021: https://lakshmisri.com/insights/articles/faceless-penalty-scheme-2021/#
Authors: Sriram Vijayaraghavan, Principal Associate (L&S), and Snehal Shukla, Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
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This week’s podcast discusses the facts and judgement of two case filed by IPRS against Entertainment Network (India) Ltd., and IPRS and PPL against CRI Events Private Limited & others for infringement of the underlying copyright subsisting in a sound recording.
Audio Source: An article published on the L&S website in February 2021: https://lakshmisri.com/insights/articles/a-legal-tussle-of-music-rights/#
Author: Godhuli Nanda, Sr. Associate (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
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To support the increasing number of startups in India, the government has taken few initiatives such as ‘Startup India’, ‘Digital India’ Startup India Seed Fund Scheme and ‘Vocal for Local’. This podcast describes such initiatives.
Audio Source: An article published on the L&S website in February 2021: https://lakshmisri.com/insights/articles/indian-startups-a-booming-revolution/
Authors: Sudish Sharma, Executive Partner (L&S), and Shikha Thakkar, Associate (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
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This podcast discusses the recent ruling in Giesecke & Devrient on the rate of tax applicable on dividends paid by an Indian company to its overseas parent.
Audio Source: An article published on the L&S website in January 2021: https://lakshmisri.com/insights/articles/dividend-payments-to-non-residents-dtaa-relief-on-the-horizon/#
Authors: Tanmay Bhatnagar, Sr. Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This week’s podcast focuses on the Union Budget 2021, presented by the Union Finance Minister. An analysis of tax proposals and its possible impact on various stakeholders like manufacturers, service providers, traders, exporters, importers, etc. have been discussed in this podcast.
Audio Source: A webinar organized by L&S in February 2021 on the Union Budget 2021.
Speakers: Mr. V Lakshmikumaran, Founder & Managing Partner (L&S), Mathivanan N., Principal Partner (L&S), Viswanathan T., Principal Partner (L&S), R. Raghavan, Executive Partner (L&S), S. Vasudevan, Executive Partner (L&S)
Voice: Sahana Rajkumar, Principal Associate (L&S)
www.lakshmisri.com
This podcast focuses on post supply discounts under GST, covering related concepts, incentives, subsidy linked to price and service, analysis of different types of industry schemes from the perspective of post supply discount, etc.
Audio Source: A webinar organized by L&S in September 2020 on post supply discounts under GST.
Speakers: Mr. B.L. Narasimhan, Principal Partner (L&S), and Mr. Shivam Mehta, Partner (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
www.lakshmisri.com
This podcast focuses on post supply discounts under GST, covering related concepts, incentives, subsidy linked to price and service, analysis of different types of industry schemes from the perspective of post supply discount, etc.
Audio Source: A webinar organized by L&S in September 2020 on post supply discounts under GST.
Speakers: Mr. B.L. Narasimhan, Principal Partner (L&S), and Mr. Shivam Mehta, Partner (L&S)
Voice: Neelambera Sandeepan, Joint Partner (L&S)
www.lakshmisri.com
This week’s podcast focuses on Compulsorily Convertible Debentures (CCDs), related corporate law framework, and regulatory framework governing the issuance of CCDs to a business entity.
Audio Source: An article published on the L&S website in December 2020: https://lakshmisri.com/insights/articles/compulsorily-convertible-debentures-debt-or-equity/#
Author: Neha Sharma, Sr. Associate (L&S)
Voice: Dhruv Matta, Principal Associate (L&S)
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This podcast highlights the legacy of the controversy “Taxability of perquisites provided by the employer to employee” that has gained momentum under the GST regime on account of various divergent rulings.
Audio Source: An article published on the L&S website in December 2020: https://lakshmisri.com/insights/articles/gst-on-services-provided-in-the-course-of-employment/#
Author: Brijesh Kothary, Joint Partner (L&S), and Amber Kumrawat, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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Our this week’s podcast discusses about the certain pitfalls that exporters should avoid to ensure achievement of ‘cooperative status’ and the least anti-dumping or countervailing duty, keeping the important guidelines by the Indian investigating authority - the Directorate General of Trade Remedies into consideration.
Audio Source: An article published on the L&S website in November 2020: https://lakshmisri.com/insights/articles/participation-in-trade-remedy-investigations-first-impressions-matter/
Author: Ankur Sharma, Joint Partner (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This is the second part of the podcast that focuses on a new regime governing eligibility to preferential duty under the Free Trade Agreements.
Audio Source: A webinar organized by Lakshmikumaran & Sridharan Attorneys in September 2020.
Speakers: V. Lakshmikumaran, Founder & Managing Partner (L&S); T. Viswanathan, Principal Partner (L&S); Ravi Raghavan, Senior Partner (L&S); P Sridharan, Partner (L&S); Lakshmi Menon, Partner (L&S); Rachit Jain, Partner (L&S); Ankur Sharma, Joint Partner (L&S); Garima Srivastava, Principal Associates (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This podcast focuses on a new regime governing eligibility to preferential duty under the Free Trade Agreements.
Audio Source: A webinar organized by Lakshmikumaran & Sridharan Attorneys in September 2020.
Speakers: V. Lakshmikumaran, Founder & Managing Partner (L&S); T. Viswanathan, Principal Partner (L&S); Ravi Raghavan, Senior Partner (L&S); P Sridharan, Partner (L&S); Lakshmi Menon, Partner (L&S); Rachit Jain, Partner (L&S); Ankur Sharma, Joint Partner (L&S); Garima Srivastava, Principal Associates (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This week's podcast discusses the amendments introduced by the recent circular issued by SEBI in November 2020 on schemes of arrangement involving listed companies.
Audio Source: An article published on the L&S website in November 2020: https://lakshmisri.com/insights/articles/m-a-by-listed-companies-sebi-s-grip/#
Authors: Sudish Sharma, Executive Partner (L&S) and Shikha Thakkar, Associate (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
This week's podcast describes slump sales and taxation of slump exchange which is recently held by the Madras High Court in the case of Areva T&D Ltd.
Audio Source: An article published on the L&S website in November 2020: https://lakshmisri.com/insights/articles/slump-exchange-the-taxation-battlefield/#
Authors: Shalini Maheshwari, Senior Associate (L&S), Aanchal Jain, Associate (L&S)
Voice: Dhruv Matta, Principal Associate (L&S)
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This podcast focuses on divisional application under Section 16(1) of the Patents Act, 1970, which may be filed whenever the patent application includes a plurality of distinct inventions.
Audio Source: An article published on the L&S website in November 2020: https://lakshmisri.com/insights/articles/divisional-applications-in-india-evolving-jurisprudence/
Authors: Jaya Pandeya, Partner (L&S), Ankur Garg, Joint Partner (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This podcast explains how the pandemic has impacted M&A deals in India and what potential buyers need to know.
Audio Source: An article published on IFLR in September 2020: https://www.iflr.com/article/b1nhrgctfb3x5g/indian-mampa-in-a-changed-world
Authors: L. Badri Narayanan, Executive Partner (L&S), Gaurav Dayal, Partner (L&S), Kunal Arora, Joint Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
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This podcast focuses on one of the important issues of idea-expression dichotomy, and the litigant approaching the Courts for reliefs at the eleventh hour, under the copyright law, citing the case of Vinay Vats v. Fox Star Studios India Pvt. Ltd.
Audio Source: An article published in November 2020 on the L&S website: https://lakshmisri.com/insights/articles/timing-of-institution-of-a-civil-action-is-crucial/
Voice: Vrinda Maheshwari, Practice Development Manager (L&S)
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This week’s podcast discusses the case Sparx Group Co. Ltd. v. Senior Examiner of Trade Marks; thereby highlighting the real purpose of a trademark which is to uniquely identify and distinguish a brand’s identity to avoid consumer confusion.
Audio Source: An article published in November 2020 on the L&S website: https://lakshmisri.com/insights/articles/trademarks-registration-of-similar-identical-marks-if-services-goods-offered-are-distinct/
Voice: Vrinda Maheshwari, Practice Development Manager (L&S)
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This podcast discusses the most contentious issue of employee recoveries in both, pre-GST era and GST era, which was subsequently addressed by Maharashtra Authority of Advance Ruling (‘AAR’) in case of Tata Motors Ltd.
Audio Source: An article published in September 2020 on the L&S website: https://lakshmisri.com/insights/articles/tata-motors-aar-decision-a-fix-to-the-age-old-strife/#
Author: Tanya Garg, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This podcast focuses on the Foreign Contribution (Regulation) Amendment Bill, 2020, which was passed by the Lok Sabha and Rajya Sabha in September 2020, and highlights the proposed key changes the bill evokes.
Audio Source: An article published in October 2020 on the L&S website: https://lakshmisri.com/insights/articles/regulating-the-foreign-contribution-changing-regime/#
Author: Sudish Sharma, Executive Partner (L&S) and Shikha Thakkar, Associate (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
This week’s podcast focusses on the new Equalisation Levy (‘2020 Levy’ / ‘EL’) which is imposed on non-resident e-commerce facilitators.
Audio Source: An article published in October 2020 on the L&S website: https://lakshmisri.com/insights/articles/equalisation-levy-on-non-resident-e-commerce-facilitators-analysing-amount-for-tax/#
Author: Harshit Khurana, Senior Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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2020 has had an adverse effect on economies worldwide due to the COVID-19 pandemic and given the same, corporates are more cautious about liquidity flow and many are unsure about proceeding with M&A deals. This podcast highlights the various approaches to execute M&A transactions that companies may consider amid this economic crisis.
Audio Source: An article published on October 2020 in International Law Office. It can also be accessed on https://www.internationallawoffice.com/Newsletters/Corporate-FinanceMA/International/Lakshmikumaran-Sridharan/MA-in-2020-adjusting-to-COVID-19-shockwaves#
Authors: Sudish Sharma, Executive Partner (L&S), and Shikha Thakkar, Associate (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
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This podcast describes the interplay between the Doctrine of Merger, its applicability, and certain provisions of the Income Tax Act, 1961 namely Sections 147, 263, and 154.
Audio Source: An article published in August 2020 on https://lakshmisri.com/insights/articles/doctrine-of-merger-and-its-application-to-orders-passed-under-income-tax-act-1961/#
Author: Abhinov Vaidyanathan, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
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This podcast focuses on the concept of intermediary under the GST law and the complications arising from it.
Audio Source: An article published in August 2020 on https://lakshmisri.com/insights/articles/intermediary-mediating-required-for-intermediary/#
Authors: Rinku Panbude Principal Associate (L&S), and Shankar Rochlani, Principal Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
The anti-dumping investigation by EU concerning mixtures of urea and ammonium nitrate is one of those unprecedented cases where the lesser “duty rule” was suspended for the first time. Our this week’s podcast analyses this case.
Audio Source: An article published in August 2020 on https://lakshmisri.com/insights/articles/suspension-of-lesser-duty-rule-by-the-eu-in-anti-dumping-investigations/#
Author: Vikrant Nehra, Associate (L&S)
Voice: Vrinda Maheshwari, Practice Development Manager (L&S)
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The podcast explains the latest FDI policy laying down restrictions on foreign direct investment (FDI) from bordering countries, in light of the disruption caused by the COVID-19 pandemic.
Audio Source: An article published in the month of September 2020 on https://www.internationallawoffice.com/Newsletters/Corporate-FinanceMA/India/Lakshmikumaran-Sridharan/Restrictions-on-FDI-from-bordering-countries
Authors: Gaurav Dayal, Partner (L&S); Kunal Arora, Joint Partner (L&S); Gunmeher Juneja, Principal Associate (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
The podcast discusses the thin line which a payment needs to cross in order to become a consideration from a GST law perspective.
Audio Source: An article published in the month of August 2020 on the L&S website: https://www.lakshmisri.com/insights/articles/contractual-payment-consideration/
Author: Mansi Goel, Principal Associate (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
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This podcast discusses the case of Bayerische Motoren Werke (BMW) AG v. Om Balajee Automobile (India) Private Limited for trademark infringement and the subsequent judgement by the Delhi High Court.
Audio Source: An article published in August 2020 on the L&S website: https://lakshmisri.com/insights/articles/dishonest-adoption-of-a-well-known-trademark-for-dissimilar-goods-and-services-a-ground-of-infringement/#
Author: Anoop Verma, Associate (L&S)
Voice: Dhruv Matta, Principal Associate (L&S)
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The podcast discusses the Corporate Social Responsibility policy introduced under the Companies Act, 2013 to discharge social responsibility through innovative ideas and management skills in India.
Audio Source: An article published in August 2020 on the L&S website: https://lakshmisri.com/insights/articles/corporate-social-responsibility-and-implementation-agencies/#
Authors: Sudish Sharma, Executive Partner (L&S), and Shikha Thakkar, Associate (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
This podcast highlights the issues that arise during the contract such as liquidated damages, free-of-cost (FOC) supplies by recipients, etc., and also discusses the laws for the breach of the contract.
Audio Source: A webinar organized by L&S on ‘Consideration of Contract v. Conditions of Contract - An analysis of GST and Service Tax Laws' in July 2020.
Moderator: B L Narasimhan, Principal Partner (L&S)
Speakers: Raghavan Ramabadran, Executive Partner (L&S), and Narendra Singhvi, Joint Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
This episode describes how consideration of contract is different from conditions of contract and why this will have an impact on taxation statutes, particularly in GST law.
Audio Source: A L&S organized a webinar on ‘Consideration of Contract v. Conditions of Contract - An analysis of GST and Service Tax Laws' in July 2020.
Moderator: B L Narasimhan, Principal Partner (L&S)
Speakers: Raghavan Ramabadran, Executive Partner (L&S), and Narendra Singhvi, Joint Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
This podcast analyses GST and Service Tax Laws on the basis of a recent judgment delivered by the Larger Bench of CESTAT.
Audio Source: A L&S organized a webinar on ‘Consideration of Contract v. Conditions of Contract - An analysis of GST and Service Tax Laws' in July 2020.
Moderator: B L Narasimhan, Principal Partner (L&S)
Speakers: Raghavan Ramabadran, Executive Partner (L&S), and Narendra Singhvi, Joint Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
The second part of this podcast majorly talks about the impact of data mining and analysis in online gaming, current innovations in in-games and out-games, and the role of certification companies/experts of self-regulation.
Audio Source: Webinar, jointly organized by the All India Gaming Federation (AIGF) and Lakshmikumaran & Sridharan Attorneys in July 2020.
Moderator: Roland Landers, CEO (AIGF)
Panellists: Justice Vikramajit Sen, Former Judge (Supreme Court of India) & Former Chief Justice (Karnataka High Court); Prof. Deepak Dhayanithy (IIM, Kozhikode); and L Badri Narayanan, Executive Partner (L&S)
Voice: Dhruv Matta, Principal Associate (L&S)
www.lakshmisri.com
This podcast discusses skill games, innovation in the online gaming industry, and legal landscape & regulatory challenges in India. The audio is based on a webinar, jointly organized by All India Gaming Federation (AIGF) and Lakshmikumaran & Sridharan Attorneys in July 2020.
Moderator: Roland Landers, CEO (AIGF)
Panellists: Justice Vikramajit Sen, Former Judge (Supreme Court of India) & Former Chief Justice (Karnataka High Court); Prof. Deepak Dhayanithy (IIM, Kozhikode); and L Badri Narayanan, Executive Partner (L&S)
Voice: Dhruv Matta, Principal Associate (L&S)
www.lakshmisri.com
This podcast summarises the various anti-competitive activities analysed by the Competition Commission of India (CCI) and some of the noteworthy mergers and acquisitions approved by the CCI in the Indian automobile industry.
Content: Charanya Lakshmikumaran, Partner (L&S), and Neelambera Sandeepan, Joint Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
As businesses across the world get disrupted amidst the coronavirus pandemic, a ‘new normal’ is on the horizon. Social distancing has become the basic requirement for now and is likely to remain so even in the post-pandemic era. While factoring in ‘social distancing’ in our personal lives seems challenging enough from a long-term perspective, the impact that it has had, and will continue to have, in the business world is far and beyond. This podcast focuses on opportunities in the post-pandemic world for Startups and MSMEs.
The podcast is based on an article published in YourStory in June 2020. You may read the article on https://yourstory.com/2020/05/opportunities-lie-ahead-startups-msme-post-pandemic
Authors: L. Badri Narayanan, Executive Partner (L&S); Kunal Arora, Joint Partner (L&S); and Gunmeher Juneja, Principal Associate (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
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COVID-19 has strained the Indian healthcare sector unlike ever before. While hospitals and healthcare professionals struggle to meet the continuously increasing demand, the pharmaceutical and medical devices industries have been presented with a novel challenge as well as opportunity to develop vaccine and remedial drugs for COVID-19. Concurrently, pharmaceutical companies are also besieged with the need for other critical and essential medication for domestic consumption and exports.
Author: Neelambera Sandeepan, Joint Partner (L&S)
Voice: Gunmeher Juneja, Principal Associate (L&S)
www.lakshmisri.com
When the ‘Right to Privacy’ was recognised as a fundamental right under the Constitution of India by the Hon’ble Supreme Court of India, it was noted that there is a requirement to have a legislation in place to protect the informational privacy of persons in India. Such a legislation would necessarily have to strike a balance between individual interests and the legitimate concerns of the state as well as that of organisation who sought to use data for providing digital services.
Keeping in mind the outline provided by the Hon’ble Supreme Court of India, the PDP Bill seeks to provide a legislative mechanism that we try and cover in this podcast.
This podcast is based on an article published on L&S website in May 2020. Article link is https://lakshmisri.com/insights/articles/personal-data-protection-in-india/
Authors: Charanya Lakshmikumaran, Partner (L&S) and Prashant Phillip, Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com
This podcast endeavors to bring to the attention of the listeners major rulings passed by the Hon'ble Supreme Court in the last five years on Indirect taxation. These rulings will have significant impact in settling disputes and reducing pendency at all levels of adjudication.
This is based on an article published by our attorneys in May 2020 on Taxmann, the link to which is https://gst.taxmann.com//fileopennew.aspx?id=105010000000017713&mode=home&page=ts
Authors: Charanya Lakshmikumaran, Partner (L&S) and Aditya Bhattacharya, Joint Partner (L&S)
Voice: Rishabh Chopra, Joint Partner (L&S)
www.lakshmisri.com