KAY & Partners — Insights
Commentary on recent judgments and regulatory developments across our practice areas. Analysis is factual and educational. Nothing here constitutes legal advice.
The Head Office Cap
The Supreme Court Closes the Section 44C Loophole Foreign Banks Thought They Had
A branch office of a foreign bank operates in India, but it does not operate alone. Behind every branch is a head office — in New York, in London, in Tokyo — running the systems, carrying the compliance infrastructure, m…
Read analysis →The Non-Compete Write-Off
An Acquirer Paid Its Target's Promoter Not to Compete. The Supreme Court Said That Was a Running Cost, Not a Capital Investment.
When one company acquires another, the consideration is rarely a single figure. It is disaggregated: so much for the shares, so much for the goodwill, so much — and here is the provision that generates the most sustained…
Read analysis →The Reinsurance Resolve
No Office in India, No Tax in India: Supreme Court Settles a Long-Running Question on Cross-Border Reinsurance
India's insurance industry runs, in part, on a mechanism most policyholders never see. When a large policy is written — covering a power plant, a port, a hospital network — the insurer rarely keeps all that risk on its o…
Read analysis →The Sanction Trap
COVID Saved Thousands of Reassessment Notices. The Supreme Court Just Closed the Debate on Whether They Can Be Enforced.
The reassessment notices issued between April and June 2021 by Income Tax Assessing Officers across the country were, by almost any measure, a product of institutional improvisation under pressure. COVID had suspended th…
Read analysis →The analyses published here are prepared by the editorial team of KAY & Partners and are intended solely as general commentary on judicial and regulatory developments. They do not constitute legal advice and should not be relied upon as such. Bar Council of India Rules prohibit advocates from soliciting work or advertising in a manner that implies specialisation or past success. Nothing on this page constitutes a testimonial, endorsement, or guarantee of outcome.