Compliance Chambers

C onsequent to Delhi High Court's Order dated 23-04-2018 in writ petition No. WPC- 5590 of 2015 in the matter of Shamnad Basheer Vs UOI and others, stakeholder consultation was undertaken in order to streamline the requirements related to submission of statement regarding the working of a patented invention on a commercial scale in India (Form 27). The Patents (Amendment) Rules, 2020, which came into effect on 19 October 2020, have further streamlined the requirements related to filing of Form 27 and submission of verified English translation of priority documents, which is not in English language.   Important changes with reference to Form-27 and Rule 131(2) are as follows: Patentee would get flexibility to file a single Form-27 in respect of a single or multiple related patents Where a patent is granted to two or more persons, such persons may file a joint Form-27 The patentee would be required to provide ‘approximate revenue / value accrued' Authorized agents would be able t

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act. The Government issued a Notification on 24 th June, 2020 under the Ordinance which, inter alia, extended the due date for all Income Tax Returns for the FY 2019-20 (AY 2020-21) to 30th November, 2020. Hence, the returns of income which were required to be filed by 31st July, 2020 and 31st October, 2020 are required to be filed by 30th November, 2020. Consequently, the date for furnishing various audit reports including tax audit report under the Income-tax Act, 1961 (the Act) has also been extended to 31st October, 2020. In order to provide more time t

  BRIEF FACTS OF THE CASE NET 4 India limited is originally an internet service provider in 1985 but it soon transformed into domain name registrar when the internet service business lessening around the world. Net 4 India limited was one of the largest domain registrar of India having room for over one lakh generic top-level domain such as .com, .net etc. In 2011, Net 4 India limited was going through good waft of business, the profits were elevating, and company just finished its strategic acquisition and the revenues generated by company were hundreds of crore along with proportionate profits, data centre and offices in six cities. NET 4 India had approached State Bank of India for seeking financial assistance, at request of corporate debtor; State Bank of India had sanctioned financial assistance of Rs. 194 Crore. The corporate debtor again approached State Bank of India on various occasion for seeking financial assistance and subsequently defaulted in payment of dues of State

The Food Safety and Standards Authority of India (FSSAI) vide notification bearing number  Stds/SP(L&C/A)/Oil Claims/FSSAI-2018, dated 14th October 2020 has notified the Food Safety and Standards (Advertising and Claims) First Amendment  Regulations, 2020. It has notified  a list of permitted “nutrient function” claims that edible oil companies can use on the labels and advertisements of their products. As per the latest notification t he terms used in this Schedule such as Rich, Contains shall be in accordance with conditions specified in  Schedules-I.  Provided that Food Business Operators may choose to use same or similar terms in the claim statements as provided  in this Schedule-I while ensuring no change in the intent and meaning of the claim. For instance, groundnut oil companies can state “contains monounsaturated fatty acid (MUFA) and Omega-6 Poly Unsaturated Fatty Acid that helps to lower of cholesterol” and “contains Tocopherols which are natural antioxidants,” on the la

T he Environmental Pollution ( Prevention & Control) Authority – An Authority set up by Central Government in pursuance of the order dated 30 th   April 2016 of Hon’ble Supreme Court has reviewed urgent action vide order bearing no. EPCA-R/2020/L-38 for implementation of the Graded Response Action Plan. The Task force on Graded Response Action plan has advised EPCA that the region has slipped into the poor category as weather condition are turning adverse. The winter period sees worsening air quality because there is less dispersion and lower temperature trap pollutants close to the ground. It is, therefore, necessary to ensure that the level does not rise further. Accordingly, the EPCA is directing the following measures under Very Poor/ Severe category of GRAP from October 15, 2020. As of October 15,2020, the following measures will come into force: 1.     The use of diesel generator sets will be banned( other than essential/ emergency services) in Delhi and in vicinity towns- Gh