In the absence of any limitation period prescribed in the statute, a reasonable period should be applicable for proceedings against non-deduction of tax for payments made to non-residents. Considering that the limitation period prescribed under s. 201(3) of the ITA was not brought about by way of a ...
Blogs by Nishith Desai Associates
India and Cyprus sign revised agreement for avoidance of double taxation with Cyprus. As per the revised agreement, India shall have the right to tax capital gains arising from the transfer of investments made on or after April 01, 2017. Investments made before April 01, 2017 have been grandfathered...
Conflict of interest illustrations in the V th Schedule provide examples of situations that must be disclosed by an arbitrator. Such situations do not amount to disqualification unless there actually exist justifiable doubts as to independence and impartiality of the arbitrator concerned. Conflict o...
Delhi High Court: Reaffirms the criteria to deem a foreign arbitral award valid under section 44 of the Arbitration and Conciliation Act, 1996 and the Convention on the Recognition and Enforcement of Awards, 1958. A contract containing an arbitration agreement must be signed by all parties to the co...
Earlier, all online transactions through credit / debit cards issued in India were subject to a mandatory ‘second factor authorization’. Reserve Bank of India directs that this additional factor authorization requirement may be relaxed, at the option of the customer, for transactions of up to INR 2,...
Every disruption creates opportunities. The demonetization also offers us an opportunity to leap frog from the millennia-old physical world of currency to the emergent digital world. Digital currencies come in various forms, each offering different benefits and challenges. Swift actions by the India...
A full judge bench of the Bombay High Court holds that a scheme settled by two companies is not a document chargeable to stamp duty. Rather, an order passed by the Court sanctioning such a scheme under Section 394 of the Companies Act, 1956 which effects such a transfer is a document chargeable to s...
2016 is not 1947, here’s how we must redraft educational policy Of late, we have had a lot of legislative and stakeholder activism in the K-12 and higher education space in India. States like Tamil Nadu, Rajashthan & Maharashtra has seen the most of it. This primarily includes Fee Regulation of...
CCI holds that Uber does not hold a dominant position in Kolkata and dismisses claim filed by Meru Cabs. CCI holds Kolkata’s market to be a peculiar market and hence relevant product market would include services offered by radio taxis as well as yellow taxis. CCI holds that the relevant geographic ...