Bilateral Investment Promotion and Protection Agreements signed by India
The Government of India has, so far, signed Bilateral Investment Promotion and Protection Agreements (BIPAs) with 82 countries, of which 72 BIPAs have come into force. A list of countries with whom BIPAs have been signed or enforced is at Annexe-I. In relation to an arbitration award relating to M/s White Industries Australia Limited (WIAL), Australia,… Read More
Investment in SEZs
As per Rule 53 of SEZ Rules 2006 the SEZ units are under an obligation to achieve positive Net Foreign Exchange (NFE) earnings to be calculated cumulatively for a period of 5 years from the commencement of production. Under Rule 53 certain categories of sales/supplies have also been permitted to be counted towards NFE earnings.… Read More
Joint Ministerial Commission of India and Australia
The 14th India-Australia Joint Ministerial Commission (JMC) Meeting was held in New Delhi on 29th January, 2013 co-chaired by Shri Anand Sharma, Hon™ble Minister of Commerce, Industry and Textiles, India and the Hon™ble Dr. Craig Emerson MP, Australian Minister for Trade and Competitiveness and Minister assisting the Prime Minister on Asian Century Policy. The issues… Read More
Review of Export Policy – Role of Farmers
Review of export policy is a continuous process undertaken by the Government from time to time. The Government reviews the export policy in consultation with the administrative Ministries and the Departments concerned and other stake holders, keeping in view the various factors such as availability of goods in the domestic market, production, the price situation… Read More
Free Trade Agreements & Bilateral Trade Agreements signed by India
India has signed the following two free trade agreements/bilateral trade agreements during the last three years: Agreements signed: S. No. Name of the Agreement and partner country Date of Signing Date of implementation 1. India - Japan Comprehensive Economic Partnership Agreement (CEPA) 16.02.2011 01.08.2011 2. India - Malaysia Comprehensive Economic Cooperation Agreement (CECA) 18.02.2011 01.07. 2011 No… Read More
Statement relating to branch wise details of trademark certificates issued
The Office of the Controller General of Patents Designs and Trademarks has 11 Offices in five cities. Of these, 4 are Patent Offices located at Kolkata, Mumbai, Chennai and Delhi while the Trade Marks Registry (TMR) has offices at Mumbai, Delhi, Kolkata, Chennai and Ahmedabad. The Design Office is at Kolkata and the Geographical Indications… Read More
Clearance to Coal Mining Projects to be Expedited
The Government has been addressing the impediments coming in the way of taking up of coal mining projects by the coal companies. A regular interaction between Ministry of Coal (MoC) and Ministry of Environment and Forests (MoEF) is taking place to address the pending issues concerning Environmental Clearances (EC) and Forestry Clearances (FC). Similarly regular… Read More
States Advised to Facilitate Clearances for Coal Blocks
The coal bearing State Governments have been advised to facilitate and expedite in obtaining the various clearances, grant of mining leases and land acquisition by the coal blocks allocattees so that coal production can be increased. This information was given by the Minister of State for Coal, Shri Pratik PrakashBapu Patil in a written reply in Rajya Sabha today. He said that a total… Read More
Committee to Devise A PPP Policy with CIL Setup
The Union Government has envisaged that one of the ways forward to reduce the dependence on imports is to devise a Public Private Partnership (PPP) policy framework with CIL as one of the partners in order to increase the production of coal for supply to power producers and other consumers. Accordingly the Ministry of Coal… Read More
Income received from rentals from business centre is to be considered a business income
CLR Editorial Notes: This case refers to an appeal filed by the assessee, which was directed against an order passed by Commissioner (Appeals)-V, Mumbai, for the quantum of assessment passed under section 143(3) of the Income Tax Act, 1961 (for short the Act) for assessment year 2007-08. The appeal was filed on the following grounds:- The CIT(A) erred in confirming the… Read More
Foreign Associate Enterprise cannot be the tested party & Transfer pricing can exceed overall group profits
CLR Editorial Notes: The Tribunal had to consider the following important transfer pricing issues in this case: (i) whether the foreign Associated Enterprise can be taken as as the tested party & if the sale price received by the foreign AEs from the services ultimately sold to customers is equal to that charged by the… Read More
“Ignorance of law” not cause enough for failure to pay service tax
CLR Editorial Notes: This appeal was filed by the owner of a Hotel, who was sent a show-cause notice that demanded an amount in service tax from the assessee for the period from September 2004 to December 2006 in respect of outdoor catering service. On a perusal of the records, it was found that the appellant was… Read More
Amount transferred as inheritance to beneficiary as per a Will, is not considered income
CLR Editorial Notes: This case refers to an appeal made by the Revenue Department directed against an order passed by the Income Tax Appellate Tribunal pertaining to an assessment done in the year 2006-07. The appeal said that the CIT (A) erred in law and on facts in deleting the additional tax in the assessment on account of… Read More
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