On March 1, 2024, the High Court of Bombay (“Bombay High Court”) pronounced a judgment in the matter of Mr. Shiv Charan and Others v. Adjudicating Authority under the Prevention of Money Laundering Act, 2002 and Another [Writ Petition (L) No. 9943 of 2023] and Directorate of Enforcement, Government of India v. Mr. Shiv Charan […]
Securities and Exchange Board of India (“SEBI”), vide its circular dated April 18, 2024, has addressed the standardization of Private Placement Memorandums (“PPMs”) audit reports for Alternative Investment Funds (“AIFs”). Regulation 28 of the SEBI (AIF) Regulations, 2012 and Clause 2.4 of Master Circular for AIFs, mandates AIFs to carry out an annual audit of […]
Payment of royalty on the sales made to the associated enterprise has always been disputed by the Indian Transfer Pricing department as not satisfying the arm’s length test. In a recent ruling[1], the Hon’ble Delhi Bench of Tribunal was pleased to delete the transfer pricing adjustment made in respect of payment of royalty on invoices […]
We are pleased to share our thoughts on the recent CBDT order dated 13 March 2024, wherein blanket approval has been granted to successor companies to furnish the return of income with modified particulars for the relevant assessment year(s) in accordance with and limited to the order of business reorganization (amalgamation or demerger or merger) […]
In the April edition of our monthly newsletter “Legalaxy“, our team analyses some of the key developments in securities market, banking and finance, intellectual property rights, pharmaceuticals, information technology, heavy industries, insurance and environment. Below are the key highlights of the newsletter: SEBI relaxes additional disclosures by FPIs fulfilling certain objective criteria SEBI allows introduction […]
We are pleased to share with you a copy of our in-house publication – “TaxBuzz… Vaish in Courtroom”, wherein we have analysed the recent ruling of the Delhi High Court in a batch of matters titled Ojjus Medicare Pvt Ltd. The High Court in the said ruling, has delved into aspects relating to determination of […]
