Inadequacy of the Trade Secret’s Protection Laws in India and Legal Regime Existing in U.S

In the present scenario trade secrets protection is fundamental to encourage innovative steps, foreign investment and to promote healthy competition. Trade secrets give the commerce a spirited edge over the competitors and therefore one must ensure that he adequately protects his business related confidential information from his competitor.

Non-Resident Vis-À-Vis Section 112 & 48 Of The Income Tax Act, 1961

The position of a non-resident under the Indian Income Tax Act, 1961 (‘IT Act’) has always been under the radar, be it the current Vodafone controversy or the landmark Supreme Court judgment in Azadi Bachao Case. One of such issues is whether a non-resident can claim benefit of section 112 on the transfer of listed securities i.e. whether he can claim to pay tax @10%. The issue has been dealt at by the Income Tax Appellate Tribunal (‘ITAT’) level as well as Authority for Advance Ruling (‘AAR’) level and there are conflicting judgments to that effect.