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Nishith Desai Associates is a research-based Indian law firm with offices in Mumbai, Silicon Valley, Bangalore, Singapore, Mumbai BKC, Delhi, Munich…
Nishith Desai Associates | India | 2 Sep 2021
The Virtual Currency Regulation Review: India
Nishith Desai Associates | India | 11 Oct 2018
Mumbai tribunal: asset based valuation not applicable to preference shares
Recently, in ACIT vs. Golden Line Studio Pvt. Ltd, the Mumbai Bench of the Income Tax Appellate Tribunal (“Tribunal”) ruled that for the purposes of…
Nishith Desai Associates | India | 11 Oct 2018
Mumbai tribunal: TRC is sufficient evidence of beneficial ownership
Recently, in the case of HSBC Bank (Mauritius) Ltd. v. Deputy Commissioner of Income-tax (IT)-2(2)(2), Mumbai, the Mumbai Bench of the Income Tax…
Nishith Desai Associates | India | 11 Oct 2018
CBDT issues final notification on 10% tax rate for certain transactions
The Finance Act, 2018 (the “FA, 2018”) introduced Section 112A into the Income Tax Act, 1961 (the “Tax Act”) with effect from April 01, 2018 wherein…
Nishith Desai Associates | India | 5 Oct 2018
NCLT Refuses to Sanction Merger Scheme on Tax Avoidance Grounds
Recently, the National Company Law Tribunal (“NCLT”) refused to sanction a scheme of amalgamation between Ajanta Pharma Limited (“AJL”) and Gabs…
Nishith Desai Associates | India | 4 Oct 2018
Edtech Platform held liable for hosting infringing content
In a recent judgement, the Madras High Court held that: Platforms hosting user content and retaining control over the content, by exercising their…
Nishith Desai Associates | India | 27 Sep 2018
SEBI declares NRIs & OCIs eligible for FPIs, prescribes additional KYC norms
The Securities and Exchange Board of India (“SEBI”) has recently issued two circulars (“Circulars”) with relation to foreign portfolio investors…
Nishith Desai Associates | India | 24 Sep 2018
Madras High Court: Indian company is not an agent for transfer of its own shares
Recently, the High Court of Madras (the “High Court”), in WABCO India Ltd v. Deputy Commissioner of Income Tax, Chennai, held that an Indian company…
Nishith Desai Associates | India | 18 Sep 2018
Introduction of fresh evidence for setting aside Arbitral Award
The Supreme Court (“Court”) recently ruled in the case of M/s Emkay Global Financial Services Ltd. v. Girdhar Sondhi, that unless absolutely…
Nishith Desai Associates | India | 18 Sep 2018
India’s new regulations for online courses and programmes
With the advent of technology and the easy access to the internet, online mode seems the natural way to ensure access to education to students across…
