by Majmudar & Partners | Mar 26, 2021 | Insolvency and Restructuring
Background and Issue Whether the initiation of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) imposes a moratorium on proceedings against the corporate debtor, including those initiated under Section 138 of the Negotiable Instruments Act,...
by Majmudar & Partners | Mar 24, 2021 | Tax
In two interesting cases, one from the Delhi High Court and the other from the Chennai Income Tax Appellate Tribunal (the “Chennai ITAT”), the importance of a share valuation report in settling tax disputes has, once again, come to the fore. The Delhi High Court case...
by Majmudar & Partners | Mar 12, 2021 | Disputes and Arbitration, Tax
With regard to an over two-decade-old software royalty tax dispute, India’s Supreme Court (“SC”) has ruled that software payments made by Indian end-users or distributors and resellers to overseas software suppliers are payments for sales and not for royalties....
by Majmudar & Partners | Mar 4, 2021 | Technology, Telecommunication and Media
Background On February 25, 2021, the Indian government unveiled the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 (the “New Rules”). Once notified in the Official Gazette, the Intermediary Rules will supersede...
by Majmudar & Partners | Feb 12, 2021 | Tax
Recently, in the case of Technip France SA, the Authority for Advance Rulings (the “AAR”) dealt with the issue of taxability in India of an offshore supply of equipment and provision of offshore services. The AAR held that the payment for the offshore supply was not...
