Copyright Rules 2013 to provide new rules for statutory and compulsory licences
The Copyright Rules, 2013 has been notified by the Copyright Division, Department of Higher Education, Ministry of Human Resource Development on 14th March, 2013. The amendments to the existing provisions of the Copyright Act, 1957 and introduction of new provisions under the Copyright(Amendment) Act, 2012, which came into the force on 21st June, 2012, necessitated… Read More
Customs Appointment of Common Adjudicating Authority
F.No.437/07/2011-Cus-IV Government of India Ministry of Finance (Department of Revenue) Central Board Excise & Customs New Delhi, dated the 14th March, 2013 ORDER In terms Notification No.15/2002-Customs (N.T.) dated 07.03.2002 ( as amended) issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Board hereby assigns the Show Cause Notices mentioned in column (2),… Read More
Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
RBI/2012-13/444 DPSS.CO.CHD.No. 1622/04.07.05/2012-13 March 18, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards A reference… Read More
RBI initiates Scrutiny of Three Banks for Alleged KYC/AML Guidelines
The Reserve Bank of India has initiated the process of carrying out comprehensive scrutinies covering both, Head Office and branches of three private sector banks, namely, ICICI Bank, HDFC Bank and Axis Bank. Apart from this, the Reserve Bank has also undertaken a thematic study in respect of banks that are active in selling gold… Read More
Report on SEZs notified under SEZ Act, 2005
In addition to seven Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs set up prior to the enactment of SEZ Act, 2005, formal approval has been accorded to 577 proposals out of which 385 SEZs have been notified. A total of 166 SEZs are exporting. Statement containing State-wise distribution of SEZs is annexed. Setting… Read More
Arbitration Mechanism through Stock Exchanges – Introduction of Automatic Process and Common Pool of arbitrators
CIRCULAR CIR/MRD/ICC/ 8 /2013 March 18, 2013 All Stock Exchanges having nation-wide trading terminals Dear Madam/Sir, Sub: Arbitration Mechanism through Stock Exchanges - Introduction of Automatic Process and Common Pool of arbitrators. SEBI has received inputs from investors regarding functioning of the arbitration mechanism at the Stock Exchanges. In light of which, you are advised… Read More
Department of Electronics and Information Technology to give Preference to Domestically manufactured IT equipments
In terms of the policy for providing preference to domestically manufactured electronic products in procurement due to security considerations and in Government procurement, the Department of Electronics and Information Technology (DeitY) has issued two notifications. Notification No. 8(41)/2012-IPHW dated 17.12.2012 provides preference to domestically manufactured Desktop PCs and Dot Matrix Printers and Notification No. 8(41)/2012-IPHW… Read More
MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds
Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and… Read More
RBI Clarification on Anti-Money Laundering and Combating of Financing of Terrorism
RBI/2012-13/443 RPCD.RRB.RCB.AML.No. 9753/07.51.018/2012-13 March 15, 2013 The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards Please refer to our letter RPCD.CO.RRB.RCB.AML.No. 6163/07.51.018/2012-13 dated December 17, 2012 on risks arising from the deficiencies in AML/CFT regime of certain… Read More
Issue of Taxability of Family Settlements – A High Court’s perspective
CLR Editorial Notes: The case involves a dispute between two groups in a family. While the litigation between the two groups on the family dispute was pending in the court, both the parties agreed to divide the assets and businesses owned by the family into two lots containing two units each of the business in… Read More
Income not offered to taxation due to an inadvertent mistake does not attract a penalty under section 271(1)(c)
CLR Editorial Note: The case involved an assessee who had claimed deduction/ exemption of interest on tax-free bonds of a certain amount. The assessee had inadvertently treated taxable interest of Rs. 75 lakhs as being tax-free and offered the said sum to tax. The Assessing Officer levied a penalty u/s 271(1)(c) for concealment of income/ filing… Read More
High Court shows displeasure At CBEC’s Tax Recovery tactics
CLR Editorial Notes: The Hon'ble Punjab and Haryana High Court had to two issues to consider in the writ petition filed by the assessee. (i) whether the revenue department is justified in initiating a recovery proceeding on the basis of a Circular dated 01.01.2013, even when an application for waiver of pre-deposit is pending before the Appellate… Read More
Copyright In Judgment: An Analysis
1.1 Introduction The primary purpose of this essay is to analyze the copyrightability of a judgment in India. It will examine whether a copyright can be granted to a judgment at all, and if yes, to what extent such copyright can extend. 1.2 The Law For Copyright In Raw Judgment Section 2(k) of the Copyright… Read More
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