Articles and Updates

• Phoenix Legal - 18-12-2014

The Income Tax Appellate Tribunal (the Tribunal) "B" Bench, Bangalore has been making headlines across the country of late for its pro-assessee ruling in the decision in The Deputy Commissioner of Income Tax, Circle 9(1), Bangalore vs. M/s India Advantage Fund pronounced on October 17, 2014. The Tribunal has added much strength to Trusts under the Indian Trusts Act, 1882 doubling up as investment vehicles by ruling that the assessment of income tax vis-à-vis the pooling of funds into a revocable trust would be in the hands of the beneficiaries and not against the trustee in the capacity of a representative assessee.

• Sawant Singh - 03-05-2013

India’s regulatory framework has been uncharitably, if accurately, described as an accumulation of responses to crises, replete with turf squabbles and blind spots, rather than a comprehensive system of parts with a unified purpose. The Ministry of Finance constituted the Financial Sector Legislative Reforms Commission (FSLRC) in March 2011, with a mandate to review and suggest changes to existing laws and regulatory institutions in the financial sector to bring them up to speed with global standards. Two year

• Siddharth Hariani - 06-01-2012

In what has otherwise been a quiet year for reforms, the Securities and Exchange Board of India (SEBI) has created a buzz by notifying the SEBI (Alternative Investment Funds) Regulations, 2012, (AIF Regulations).

• - 06-01-2012

The ides of March signify an important event in the Indian financial calendar, with the announcement of the annual Union Budget heralding the roadmap of the Government’s economic plans and policies in the next fiscal year. For India’s Gross Domestic Product (GDP) to achieve its stated target growth rate of 7.6%, an increase from its present levels pegged at 6.9%, the Government has sought to comprehensively augment India’s potential in the agriculture, manufacturing and service sectors by focussing on deve

• Prince Mathews Thomas - 06-01-2012

With increasing noise around Liberty House’s move, not everyone is amused.