In a significant ruling, the Bombay High Court (Nagpur Bench) has quashed a GST show cause notice issued on the assignment of long-term MIDC leasehold rights, holding that such transfer amounts to transfer of benefits arising out of immovable property and not a taxable supply of service under GST. The Court further clarified that the […]
We are pleased to share with you our latest Customs and GST Alert, covering recent judgments and regulatory updates. We trust that you will find the same useful. Looking forward to receiving your valuable feedback. For any clarification, please write to: Mr. Shammi Kapoor Senior Partner [email protected] Mr. Arnab Roy Partner [email protected]
Securities and Exchange Board of India, vide its circular dated December 30, 2025, has mandated the requirement of National Institute of Securities Market (“NISM”) certification for the compliance officers of the manager of Alternative Investment Funds (“AIFs”). From January 1, 2027 onwards, only those persons who have obtained the NISM Series-III-C: Securities Intermediaries Compliance (Fund) […]
In a significant step towards enhancing interpretive certainty under India’s securities law framework, the Securities and Exchange Board of India has notified the SEBI (Informal Guidance) Scheme, 2025, effective 01 December 2025, replacing the erstwhile 2003 framework. The revised scheme introduces a more structured, centralised and time-bound process for seeking regulatory clarification, expands eligibility to […]
In Indospirit Beverages Pvt. Ltd. v. Ravi Mohan Studios Pvt. Ltd. (CS(COMM) 1104/2025), the Delhi High Court granted an interim injunction restraining the production house from using “BRO CODE” as the title of its upcoming film. The Court found that the studio’s adoption of an identical title was likely to mislead consumers and take unfair […]
ITAT Mumbai Deletes ₹445 Cr TP Adjustment in Netflix India Case; Clarifies Characterisation of Digital Distribution Model. The Mumbai Bench of the Income Tax Appellate Tribunal has delivered a landmark ruling in the case of Netflix Entertainment Services India LLP (AY 2021-22), deleting a transfer pricing adjustment of ₹445 crores proposed by the TPO. The […]
