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The Bigger Picture behind the India Solar Cell case

[Ayushi Kushwaha is pursuing LL.M. (Corporate) from WBNUJS Kolkata.] The 2016 finding of the Appellate Body in the India Solar Cell case[1] is more than just what we make of it. While one may study it from the perspective of India’s interesting interpretation of Article III:8(b) of the GATT 1994, one may find out that the findings will have a major impact on the long-desired aim of reconciling environmentalism and free transnational trade. The India Solar Cell case, as the name suggests, is about solar cells and modules. India imposed the Domestic Content Requirements (DCRs) on Solar Power Developers (SPDs), employing solar cells and modules, under its ambitious National Solar Mission launch

Reassessment Proceedings under Section 147 of the Income Tax Act: Issue and Service of Notice, “Reas

[Swastik Sharma is a second-year B.A.LL.B. (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow.] The early Victorian approach that taxing statutes should be interpreted in favour of the assessee is no more followed in the contemporary commercial India, where tax evasion is rampant. Initiation of reassessment proceedings by the Assessing Officer (AO) under section 147 of the Income Tax Act, 1961 (Act) is very frequently brought to litigation. As per section 147, reassessment proceedings can be initiated if the AO has “reasons to believe” that any income chargeable to tax has escaped assessment. Reopening of assessment proceedings under section 147 should not be understo

Going Belly Up: How Conglomerates can be Prevented from causing Economic Crises - An Analysis of IF&

[ Ananya Sharma and Zaara Zia are fourth-year students of Amity Law School, Noida.] The credit business of banks is on the rise, in proportion to the increased borrowing capacities of companies. As debt-financing is increasingly becoming a major financing approach for the companies, the influence of corporate governance mechanism on debt-financing has become pivotal in today’s modern world. The mighty conglomerate Infrastructure Leasing & Financial Services Limited (IL&FS) has created a furore in the country. IL&FS managed to acquire loans up to approximately 18 times more than that of its own equity, which is being held as the prime cause of its fall into the rabbit hole worth INR 91,000 cr

US-China Trade War: Understanding the Scope of Article XXI

[Priyanka Sunjay is a student at National Law University, Jodhpur.] Presidential Proclamations and Section 232 On March 8, 2018, President Trump gave his assent to impose duties of 25% on steel and 10% on aluminum imports in two Presidential Proclamations (Presidential Proclamations).[1] The legislative provision which gives him the authority to do so is section 232 of the Trade Expansions Act, 1962 that permits the executive to limit imports of products for national security purposes.[2] Under this statute, citizens can petition the government to apply import restraints and the government must respond within one year by restricting imports or by providing reasons to not do so. The decision

In the Web of Listed and Unlisted Companies Merger

[Aanchal Jain is a fifth-year student at RMLNLU Lucknow.] Mergers and acquisitions have turned into a prominent strategy for corporates across the globe to accomplish quick inorganic growth. In an era of globalization, developing markets such as India have also witnessed growing M&A arrangements in various sectors. In order to achieve better synergies, various schemes of mergers and amalgamations are being undertaken for successful implementation of the final output. A listed company may at times opt for backdoor listing, a process which gets commercial enterprises on to a stock exchange listing without having to issue an initial public offer (IPO).[1] This resulted in inadequate public disc

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