The Bombay High Court (Court) recently pronounced a ruling (Indostar Capital v Asst. Commissioner of Income Tax, Writ Petition No. 3296 of 2018) in favour of the Taxpayer (Indostar Capital). The Taxpayer, a Mauritian company sought relief from the Court since it was denied a ‘nil’ withholding certificate on the sale of shares of its Indian subsidiary, for which it was claiming the benefits of the India – Mauritius Tax Treaty (Treaty).
The Gujarat Shops & Establishments Act 1948 (Old Act) stands repealed with the notification of the Gujarat Shops and Establishments (Regulation of Employment and Conditions of Service) Act 2019 (New Act) on 1 May 2019 (Effective Date) by the Government of Gujarat.
On 24 July 2019, the Government of Haryana, through the Labour Commissioner, Haryana (Government), issued guidelines (Guidelines) wherein it has clarified that the Industrial Employment (Standing Orders) Act, 1946 (IESO Act) is applicable to shops and establishments covered by the Punjab Shops and Commercial Establishments Act, 1958 (as applicable to Haryana).
The Reserve Bank of India (RBI) issued a notification on 25 April 2019 allowing foreign portfolio investment (FPI) in municipal bonds (Muni Bonds). This was followed by a notification by the Securities and Exchange Board of India on 8 May 2019 also allowing FPI in Muni Bonds.
India’s capital market regulator, the Securities and Exchange Board of India (SEBI) notified the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations) and the SEBI (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations) in September 2014 with a view to increase investor participation in the infrastructure and real estate sector.
Koninlijke Philips NV (Phillips) filed two suits for infringement of registered design, infringement of copyright, passing off and unfair competition against Nova Manufacturing Industries, BESTCO LLC and Omni Exim Private Limited (Defendants) with regard to the registered design, trade dress and product literature of Phillips’s beard trimmer.
Hindustan Sanitaryware: Supreme Court verdict on the validity of the minimum wages notification issued by the Government of Haryana...
