Tag Archives: asset

Startups redefined; tax conditions amended: Govt.

The Department for Promotion of Industry and Internal Trade (“DPIIT”) through its notification no. G.S.R. 127(E) dated February 19, 2019 (“Notification”) has expanded the definition of startups and has relaxed conditions for claiming exemption under section 56(2)(viib) of the Income … Continue reading

Posted in Administrative Law, Company Law, Consumer Law, Contract Law, FDI, General Law, Income Tax Law, information technology law, Intellectual Property Law, International Law, Notifications/Publications/Circulars, Securities Law, Trade Law, TRIPS | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Award can be enforced where assets are located: SC

The Supreme Court of India recently clarified that the enforcement of an arbitration award through its execution can be filed anywhere in the country where the assets of the judgment debtor are located. “The enforcement of an award through its … Continue reading

Posted in Arbitration Conciliation Law, Company Law, Consumer Law, Contract Law, General Law, International Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Owner’s situs is ‘intangible asset’ situs: DHC

In an important ruling, the Delhi High Court ruled that the location (situs) of the owner of an intangible asset would be the location of an intangible asset in the absence of any specific provision in the Income Tax Act, … Continue reading

Posted in Company Law, FDI, General Law, Income Tax Law, Intellectual Property Law, International Law, Trade Law, trademark, WTO/GATT | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Revised rules for Declaration of Assets by Public Servants under Lokpal Act: Govt

Indian Government has notified fresh rules for the public servants to furnish information and annual return containing declaration of assets and liabilities. Under the Public Servants (Furnishing of Information and Annual Return of Assets and Liabilities and the Limits for … Continue reading

Posted in Civil Law, General Law, Income Tax Law, Notifications/Publications/Circulars | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Sub clause (a) Sec 2(1)(o) SARFAESI Act violates Article 14: GHC

Declaring sub clause (a) of Section 2(1)(o) of The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 (“Act”) as discriminatory, a Division Bench of the Gujarat High Court recently ruled that creditors should not be … Continue reading

Posted in Banking Law, Company Law, Contract Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Know-how, business contacts, business information, etc. intangible assets under Section 32(1)(ii) Income Tax act: ITAT

Delhi High Court ruled that Income Tax Appellate Tribunal erred in law in holding that know-how, business contacts, business information, etc. acquired as part of the slump sale described as “goodwill” were not entitled for depreciation under Section 32(1)(ii) of … Continue reading

Posted in Income Tax Law | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment