Sub:Vodafone case-few suggestions to implement in future tax laws
The Supreme Court set aside a Bombay High Court verdict directing Vodafone International Holdings to pay Rs.11, 000 Crores to the Income Tax Department by way of capital gains tax -after the telecom major acquired a majority stake in Hutch Essar in the country as it held that a transaction of transfer of shares of a foreign company between two non-residents is not taxable in India.
It is feared that the government shall make necessary and clear amendment in Income Tax Act whereby...
Thursday, 22 August 2013
Suraj Lamp Judgment does not govern possessory rights
The controversy surrounding transfers via ‘SA/SPA/GPA/Will” was certainly put to rest by the Hon’ble Supreme Court in its recently delivered judgment titled Suraj Lamps & Industries Pvt Ltd. v. State of Haryana and another. [Special Leave Petition (C) No.13917 of 2009-Decided on 11-10-2011.] The operative portion of the said judgment clearly stipulates that SA/GPA/WILL transactions are not `transfers’ or `sales’ and that such transactions cannot be treated as completed transfers or conveyances.
It also stated that...
Encroachment of power by Supreme Court.
Judicial legislation Transgression of judicial powers by Supreme Court!
In public interest litigation before the Honourable the Supreme Court of India, the petitioner referred to the rising number of road accidents in the country, which are taking place in cities, towns and on national highways causing deaths and injuries. Petitioner referred to the defects in the licensing procedure, the training of drivers, and the need for suspending licences in case of negligent driving, and driving under the influence of alcohol, which cause accidents....
Legal Education in Indian Perspective
Legal Education in Indian Perspective
Abstract
Spiritually, it is believed that the life on the earth is regulated by the laws of the Lord or the Divinity. It is ‘rule of law’, that draws the essential difference between human society and animal world. It is the legal education that plays an important role in promoting social justice. Law professionals are characterised as ‘Social engineers’. Law as a profession and legal education as a discipline was not a popular choice of the students in India prior to the introduction of five year...
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