A ‘Legal Issues Seminar – General IP’ (LIS-GIP) was conducted by Priyanshi Rastogi, Associate, on “Is Proprietary Business Information eligible as depreciable intangible asset under the Income Tax Act?”. The seminar explored how the Courts/Tribunals have interpreted the term “any other business or commercial rights of similar nature” featuring in the definition of an intangible asset eligible for depreciation. The session included a discussion on the right in rem / right in personam criteria developed by courts to determine eligibility of an intangible asset for depreciation under the Income Tax Act. The session also delved into contrary judicial decisions from recent times, that have adopted a broader interpretation for the term “any other business or commercial rights of similar nature” and included proprietary business information and other rights accruing from restrictive covenants within the definition of depreciable intangible assets. The session concluded with a discussion on the 2021 amendment to the Income Tax Act which amended the definition of a depreciable intangible asset to exclude goodwill from its ambit, thereby leading to an influx of cases considering the depreciation of intangibles such as proprietary business information which were earlier bundled into goodwill.

The presentation can be accessed here.

Wishing all our friends, clients and colleagues a Happy Diwali! We celebrated together at ALG this year with a burst of colors, music and flavors. It was an evening of gorgeous and diverse traditional wear, great karaoke, office rangolis, and much laughter!

In the upcoming INTA Leadership Meeting 2023 in Houston next week, ALG Partner Ashwani Balayan will be speaking in the panel discussion on Standards of Eligibility for Design Protection. The Panel will be moderated by upcoming Chair of INTA’s Designs Committee Tracy Gene Durkin, and the panel will include other members of the Designs Committee, sharing practical examples and insights and comparative perspectives from multiple regions – Katja Middelhoff (Europe), Jose Carlos e Dias (Brazil), and Richard Stockton (USA).

ALG’s Sheja Ehtesham and Ashwani Balayan will be attending the International Trademark Association (INTA) Leadership Meeting in Houston, Texas from November 14-17. The invitation-only event will explore key topics and emerging issues – from IP in the new digital ecosystem to fostering an inclusive workplace. Ashwani will be presenting in a Panel Discussion on Standards of Eligibility for Design Protection.

If you would like to meet in Houston, please reach out.

A ‘Legal Issues Seminar – General IP’ (LIS-GIP) was conducted by Vaidehi Gupta, Trainee Associate on “Do Defendants in IP Suits Have a Right to be Heard Prior to Passing of Ad-Interim Injunctions?”. The seminar focused on Court’s contentious engagement with ad-interim, often ex parte injunctions, including persisting interim processes and injunctions owing to substantial error. The seminar discussed multitude of cases regarding granting of ad-interim injunction orders, and affording the Defendants an opportunity to be heard prior to passing of such orders, thereby establishing a more assessed approach where it has allowed for consideration of ad interim or ex parte reliefs based on the specific circumstances of each case and not setting it as an impregnable rule.

The presentation can be accessed here.