Articles – Sapaa

AN ANALYSIS ON THE EMERGING SCOPE OF CHALLENGING THE APPOINTMENT OF SOLE ARBITRATOR VIS-À-VIS JUDICIAL INTERPRETATIONS IN INDIA

Senguttuvan K- Partner Kshithija Prakashan- Associate (First published in IBC Law and now, published in our website) I. INTRODUCTION The law relating to arbitration in India is contained in the Arbitration and Conciliation Act, 1996. It came into force on the 25th day of January, 1996. The law on arbitration in India at the time of adoption Read More

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AN E-BOOK ON VARIOUS ISSUES OF “INTEREST” UNDER INDIRECT TAXATION

Senguttuvan K –Partner Veeraraghavan Varahan– Senior Associate Kshithija Prakashan–Associate I. INTRODUCTION “Interest is the most important thing in life; happiness is temporary but interest is continuous” This famous quote on life now resonates with any taxpayer who becomes liable to pay interest, as a compensation for the time used someone’s laws, it is very Read More

Interpretation of the Term ‘Dispute’ under IBC, 2016

Senguttuvan K- Partner Kshithija Prakashan–Associate INTRODUCTION Dispute is defined under Section 5 (6) of the Insolvency and Bankruptcy Code, 2016 as: “Dispute” includes a suit or arbitration proceedings relating to — 1) the existence of the amount of debt; 2) quality of goods or service; 3) the breach of a representation or warranty; Dispute is significant Read More

Finance Bill 2017 – Budget Updates

Is Sec 270A efficient to replace Sec 271(1)(c)?

-by Advocates – K. Senguttuvan and SubathraManoharan Introduction: It is not a new fact that Sec 270A and Sec 270AA has been inserted to the Income Tax Act thereby replacing Sec 271. The motive behind bringing these new Sections into force was to reduce the litigation between the tax payer and the revenue authorities, as Read More

Uncertainty in Beneficiary provisions in the absence of proper definitions

-by Advocates – K. Senguttuvan and SubathraManoharan Introduction: 80JJAA was introduced with the sole object of encouraging employers to widen the pool of job opportunities by giving deduction in respect of additional employee cost incurred in the course of such business in the previous year, for three assessment years including the assessment year relevant to Read More

“Service Tax on Cross Border B2C OIDAR Services w.e.f 1st December 2016”

-by P.Jitendra Kumar, B.com BL(Hons) With a view to bring the Online Information and Database Access or Retrieval (OIDAR) Services providers located in non-taxable territory under the service tax net, the Central Government has brought in new provisions under the Service Tax laws to tax such cross-border transactions. At present, services received from service provider Read More

“NEW ALL INDUSTRY RATE (AIR) OF DUTY DRAWBACK w.e.f. 15th NOVEMBER 2016”

– by P. Jitendra Kumar, B.com, BL (Hons) Duty Drawback, shortly known as DBK is one of the simplest method of refund next to TDS refunds.DBK rates are notified as All Industry Rates (AIR) which attempts to compensate the duties, Customs/Central Excise/Service Tax, paid on input goods or services used in the manufacture of export Read More

AMORTISATION COST ON MOULDS SENT THROUGH JOB WORK CHALLAN

WHAT IS MOULD? A mould is a hollowed-out block that is filled with a liquid or pliable material such as plastic, glass, metal or ceramic raw material. The liquid hardens or sets inside the mould, adopting its shape, which is called cast. WHAT IS AMORTISATION COST? Amortized cost is that accumulated portion of the Read More

Taxability of compensation on compulsory acquisition of non-agricultural land – CBDT clears the air!

S 2(14) of the ITA, 1961 defines Capital Asset by exempting only the Agricultural Land, that too located not in the specified urban area without any reference to the compulsory acquisition u/s 96 of RFCTLAAR Act. However, vide Circular No 36/2016 date 25th Oct 2016 the CBDT has extended the exemption by including compulsorily acquired land without any Read More

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