Month: February 2024

ITAT: There Must Be Reasonable Basis To Apply Certain Net Profit Rates In Unexplained Sales Dismisses the revenue department’s appeal for not providing any justification for it The Rajkot, Gujarat bench of the Income Tax Appellate Tribunal (ITAT) has held that there must be a reasonable basis for applying a particular net profit rate in

Image from here On January 10, 2023 the Department for Promotion of Industry and Internal Trade (DPIIT) published the proposed Trade Marks (1st Amendment) Rules, 2024. As discussed by Pragya Singh and Lakshita Handa, here, the proposed Rules are marred with inconsistencies and can surely benefit from an assessment through the principles of simplicity, rationality, accountability

ITAT: ‘Commencement Of Activity’ Doesn’t Apply To Trusts Already In Charity Before Acquiring Provisional Registration Notes that the assessee had applied on Form 10 AB within the prescribed period The Pune, Maharashtra bench of the Income Tax Appellate Tribunal (ITAT) has directed the Commissioner of Income Tax (E) to treat the application filed by the

Herbert Smith Freehills Appoints Matt FitzGerald as Joint Managing Partner Of Global Corporate Practice He succeeds Carolyn Pugsley, who will return to full-time practice after four years International law firm Herbert Smith Freehills has appointed Matt FitzGerald as a joint managing partner for global corporate practice and the Australia regional head of practice, effective from

Gateley Onboards Perenami Momodu and Fidal hires Manuel Tomas to target African Dispute Practice They were serving at Aelex Legal and Foley Hoag With plans of gaining traction, London-listed Gateley and French firm Fidal have stepped up their Africa coverage by making senior arbitration hires. While Gateley recruited Perenami Momodu to lead its Africa practice

Cyril Amarchand Mangaldas Advised As The Counsel To The Issuance Of NCDs By Adani Ports And Special Economic Zone Limited Cyril Amarchand Mangaldas played a key role as counsel to the issuance of listed, secured Non-Convertible Debentures of up to INR 500 crore on a private placement basis (“NCDs”) by Adani Ports And Special Economic

SNG & Partners to Launch Dedicated Japan Desk The Japan Desk is the firm’s initiative and commitment to furthering the Indo-Japan bilateral relations Law firm SNG & Partners has announced the launch of its dedicated Japan desk. The Japan Desk will have a dedicated team comprising of lawyers, interpreters and other professionals. The Japan Desk

Luthra and Luthra Law Offices represented Novo Holdings in its investment in Manipal Health Enterprise Luthra and Luthra Law Offices India represented Novo Holdings, in its investment in Manipal Health Enterprises Pvt. Ltd. The investment constitutes Novo Holding’s largest investment in Asia to date. The transaction is a part of the largest private equity deal

Inttl Advocare collaborates with Nestlé India for ‘IP Roadshow’ to create awareness against counterfeiting The teams reached out to over 800 wholesalers, retailers, and shopkeepers in 45 cities, sensitizing them about the effects of indulging in forgery Inttl Advocare, in collaboration with one of its valued clients, Nestlé India, has been a part of an

Trilegal Advised Onsitego in its Acquisition of Qdigi From Fairfax-Controlled Quess Corp Trilegal is advising Onsitego in its 100% acquisition of Qdigi from publicly listed Fairfax-controlled Quess Corp. In addition, Quess Corp will be acquiring a minority stake in Onsitego. Onsitego is India’s leading device care company for digital devices, consumer electronics, and home appliances.