We are delighted to announce that Aritra Partners advised C2i Semiconductors on $15M funding from Peak XV and Yali Deeptech Fund. This investment boosts India's semiconductor & deeptech ecosystem, driving…
Union Budget 2026 reflects the Government’s continued emphasis on long-term economic growth, investment-led development, and tax system stability. The Budget balances growth imperatives with fiscal discipline, while introducing targeted reforms…
1. Introduction: What Is Reverse Flipping? The trend commonly referred to as “reverse flipping” or “internalisation” involves startups that were earlier structured with offshore holding companies deciding to shift their…
We are pleased to announce that Aritra Partners advised Blume Ventures on its investment in Mysa Innovations Private Limited as part of a $3.4 million funding round. The round witnessed…
SECTION A: Foundational Concepts
What does “flipping” an Indian company mean? Flipping refers to a corporate restructuring whereby an Indian company (I.Co) is reorganised such that a foreign holding company…
We're excited to announce that Aritra Partners guided IIFL Fintech Fund (IIFL) through Knight FinTech's landmark $23.6 million Series A funding round. Founded in 2019 by CEO Kushal Rastogi and…
Introduction The Hon’ble Supreme Court (“SC”) held that non-compete fees are in the nature of revenue expenditure and thus, are eligible for deduction as per the Income Tax Act, 1961…
Introduction
In a landmark and path-breaking judgment, the Hon’ble Bombay High Court in M/s Colorcon Asia Pvt. Ltd. v. Joint Commissioner of Income Tax & Ors.[1] has conclusively addressed the…
Introduction
The Hon’ble Supreme Court, in Director of Income Tax (IT)-I, Mumbai v. M/s American Express Bank Ltd[1] (Civil Appeal Nos. 8291 of 2015), has authoritatively settled the long‑standing controversy…
Introduction
The Hon’ble Delhi High Court (“HC”) in the case of M/s. Imagine Marketing Limited Vs. Joint Commissioner CGST Appeals II Delhi & Anr1restored the GST registration of M/s. Imagine…
GSTN (Goods and Services Tax Network) has issued consolidated FAQs to provide comprehensive clarity on the filing of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for FY 2024-25. The FAQs…
Introduction
The Hon’ble Delhi Income Tax Appellate Tribunal (“ITAT”) held that compensation received pursuant to an arbitral settlement for relinquishment of the right to sue constitutes a capital receipt. The…
Introduction
The Hon’ble Income Tax Appellate Tribunal, Delhi Bench (“ITAT”) in the case of FIVD India Consulting Pvt. Ltd. vs. Deputy Commissioner of Income Tax[1] has held that while filing…
Introduction
The Hon’ble Delhi High Court (‘HC’) recently upheld the Income Tax Appellate Tribunal’s (‘ITAT’) ruling in favour of UK-based law firm Clifford Chance (‘Assessee’), holding that the firm did…
Introduction
The Hon'ble Principal Bench of National Company Law Appellate Tribunal (“NCLAT”) at New Delhi, has upheld the order of the National Company Law Tribunal (“NCLT”) Mumbai, allowing selective reduction…
Introduction
The Hon’ble Income Tax Appellate Tribunal, Ahmedabad (“ITAT”), in the case of Rajsheel Jitendra Patel vs. ITO (International Taxation), Ahmedabad1 (AY 2019-20) upheld that a documented and registered transfer…
Introduction
The Hon’ble Delhi High Court (“the Court”) imposed costs of INR 1 lakh on the Assessee for failing to attend multiple personal hearings, as a condition for setting aside…
Input tax credit disallowed on GST charged for period before vendor’s effective date of registration
Introduction
The Hon’ble Kerala Authority for Advance Ruling (“the AAR”) upheld that the Input Tax credit (“ITC”) cannot be claimed by Applicant with respect to GST pertaining to a period…
Introduction
The Hon’ble Income Tax Appellate Tribunal, Kolkata (“ITAT”) in the case of Ajay Kumar Goel Vs. DCIT, Circle-52(1), Kolkata[1]upheld that the Assessee cannot be fastened with the responsibility of…
Introduction The Hon’ble Income Tax Appellate Tribunal (“ITAT”) of Delhi has ruled that where a domestic company opts for the concessional tax rate of 22% under section 115BAA of…
The Goods and Services Tax (GST) Council at the 56th GST Council Meeting on Wednesday collectively agreed to the proposals of the Union Government on GST rate cuts and reforms,…
Launching Aritra Partners is more than a change of brand and logo; it is the expression of a twelve-year journey that has transformed three professionals in a shared workspace into…
Introduction
The Hon’ble Gujarat High Court (‘HC’) recently pronounced a judgment on the eligibility to claim Input Tax Credit (‘ITC’) in cases where the supplier has failed to deposit tax…
Understanding how to value unquoted equity shares is crucial for tax compliance in India. This guide explains the Book Value Valuation Method under Rule 11UA of the Income Tax Rules,…
India has become a significant hub for SaaS and cloud services, fostering a dynamic ecosystem of startups that offer specialized cloud solutions across diverse industry segments. When engaging with clients…
We are thrilled to announce that we have successfully represented Blume Ventures in a $4 million seed round funding of Billion Hearts Software Technologies Private Limited, which is an innovative…
The healthcare sector in India is undergoing a transformative journey, and Aritra Partners are proud to play a pivotal role in supporting this change. We are thrilled to announce that…
Introduction
The Hon’ble Himachal Pradesh High Court (“HC”) has recently issued a significant ruling in the case of M/s Pr. Commissioner of Income Tax-1, Chandigarh Versus M/s. I.A. Hydro Energy…
Round-tripping is often pitched as a smart way to structure global operations, attract foreign investors, or plan exits. But for Indian startups, it’s a minefield of regulatory violations and tax…
On April 22, 2025, RBI issued A.P. (DIR Series) Circular. No 02/2025-26 (“Circular 02/2025-26”), followed by A.P. (DIR Series) Circular. No 04/2025-26 on April 24, 2025 (“Circular 04/2025-26”), addressed to…
Backing Deep-Tech Innovation: Aritra Partners Advises Blume Ventures on Investment in Optimized Electrotech
At Aritra Partners, we take pride in partnering with visionary investors and disruptive startups that are shaping…
Introduction
On January 30th, 2025, the Reserve Bank of India(“RBI”) introduced a revised framework[1] for imposing monetary penalties and compounding offences under the Payment and Settlement Systems Act, 2007 (“PSS…
Desamante Matti Kaadoi, Desamante Manushuloi’ - ‘A Country is not just its soil, a Country is its people.’
The journey of development for Bharat should be fuelled with reforms that…
INTRODUCTION
The Reserve Bank of India (“RBI”) issued three significant notifications on January 14, 2025, amending various regulations under the Foreign Exchange Management Act, 1999 (“FEMA”). These amendments include key…
INTRODUCTION
The Reserve Bank of India (“RBI”) on January 7th, 2025, issued the Master Direction titled ‘Reserve Bank of India (Non-resident investment in Debt Instruments) Directions, 2025 (“MD-Debt Instrument”)1. This…
The Reserve Bank of India has recently introduced an amendment under the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Fifth Amendment) Regulations, 2025 (“FEMA”). The…
Introduction
On August 11, 2023, Digital Personal Data Protection Act, 2023 (“DPDP Act”) was enacted to ensure the privacy and protection of digital personal data processed in India. The DPDP…
Introduction
The Hon’ble Chennai Income Tax Appellate Tribunal (“ITAT”) recently ruled that no additional interest under section 234C of the Income-tax Act, 1961 (‘the Act’) is warranted when the Assessee…
Introduction
The Hon’ble Hyderabad Income Tax Appellate Tribunal (“ITAT”) has recently delivered a significant ruling concerning the eligibility to claim bad debts that have been written off in the books…
The Securities and Exchange Board of India (SEBI) issued a final order regarding the Initial Public Offering (IPO) of Trafiksol ITS Technologies Limited (“Company” or “Trafiksol”). The order addresses…
Introduction
The Hon’ble Mumbai Income Tax Appellate Tribunal (‘ITAT’), confirms eligibility of resident taxpayers to claim indexation benefits on capital gains from the sale of foreign shares. In the case…
Introduction:
The Hon’ble Ahmedabad Income Tax Appellate Tribunal (‘ITAT’) has recently delivered a significant ruling concerning the eligibility of TDS credit in a subsequent Assessment Year (‘AY’), where corresponding income…
Theranautilus Secures $1.2 Million in Seed Funding to Revolutionize Dental Healthcare with Nanorobotics
We are excited to announce that
has successfully advised Theranautilus, a pioneering deep-tech firm specializing…
Introduction
The Mumbai Income Tax Appellate Tribunal (ITAT) held that managerial services provided by the taxpayer, a resident of the UK, are not taxable in India as they fall outside…
The Net Asset Value (NAV) valuation method is a widely-used approach for determining the current worth of companies and investment funds, especially those that are asset-heavy. By subtracting total liabilities…
The Discounted Cash Flow (DCF) method stands as a cornerstone approach for valuing startups in India. This comprehensive guide explains how DCF helps estimate a startup's value by analyzing future…
The Future of Financial Systems: Finternet
In today's rapidly evolving digital landscape, the financial sector is undergoing a revolutionary transformation. Let's dive deep into these ideas and explore how they're…
Introduction:
The Ministry of Corporate Affairs (“MCA”) has introduced Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024 published on July 15, 2024…
The Ministry of Finance (Department of Economic Affairs) issued the Foreign Exchange (Compounding Proceedings) Rules, 2024 (“Rules 2024”) on September 12, 2024, thereby superseding the Foreign Exchange (Compounding Proceedings) Rules,…
On September 9, 2024, the Ministry of Corporate Affairs (MCA) introduced significant amendments to the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016. These changes, effective from September 17, 2024, aim…
Indian startups and entrepreneurs have to understand Labour Law Due Diligence for managing risks and ensuring compliance for long-term success. Reviewing labour laws helps identify potential legal and financial risks…
In India's startup ecosystem, due diligence is a vital process that ensures compliance with tax laws, minimises risks, and maximises opportunities.
Due diligence in the context of direct and indirect…
Liabilities due diligence is, beyond a doubt, one of the most important processes in the fast-moving world of Indian startups. It is a broad evaluation of the financial, secretarial, and…
Due diligence of assets is crucial for startups to identify potential risks, liabilities, or hidden costs associated with them. We evaluate how assets operate and gather comprehensive insights to assist…
Reviewing expenses during Due Diligence helps verify the authenticity and accuracy of expense claims, identify major areas of spending, and assess management’s financial discipline and controls. Further, it also helps…
Due Diligence of income is important to verify the authenticity and accuracy of revenue, assess revenue recognition policies and practices, and to evaluate the sustainability and scalability of revenue streams.…
INTRODUCTION
In a move to bring lucidity to the instructions for Overseas Investors by persons resident in India and enhance the structure of implementation of Overseas Direct Investment, the Reserve…
INTRODUCTION
The Hon’ble Finance Minister during her speech of Union Budget 2024-25 had announced that the rules and regulations for foreign direct investments and overseas investment rules will be simplified…
INTRODUCTION
In a move to fasten the pace of the investment vehicles in India and provide for a robust a mechanism for streamlining the investment opportunities with that of the…
Introduction
The Hon’ble Delhi Income Tax Appellate Tribunal (“ITAT”) upheld that the capital asset held by the Assessee, in the nature of rights and interests in respect of Compulsory Convertible…
As per section 454(5) of the Companies Act, 2013 (“the Act”) and the Companies (Adjudication of Penalties) Rules, 2014 (“the Rules”), the adjudging officer is required to issue a written…
INTRODUCTION
The Reserve Bank of India (“RBI”) issued the “Master Direction on Cyber Resilience and Digital Payment Security Control for non-bank Payment System Operators” dated July 30, 2024 (“Master Direction”)[1]…
Introduction
The Delhi Income Tax Appellate Tribunal upheld the validity of the Tax Residency Certificate as primary and statutory evidence of residency, emphasizing that the onus shifts to the Revenue…
Introduction
In a recent ruling dated July 24, 2024, the Karnataka Authority for Advance Rulings determined that Rapido, an app-based transportation service operated by M/s Roppen Transportation Services Pvt Ltd1,…
Introduction
The Telangana High Court (‘HC’), in a landmark decision, has upheld the invocation of General Anti-Avoidance Rules (‘GAAR’) in a case revolving around bonus stripping. This significant ruling was…
SEBI has taken an initiative to experiment with the potential of using Artificial Intelligence in changing the processing of IPO documents. This will usher in an atmosphere of efficiency, accuracy,…
INTRODUCTION
On 15th July, 2024, the Reserve Bank of India (“RBI”) issued three revised Master Direction on Fraud Risk Management for Commercial Banks and All India Financial Institutions(“AIFIs”)[1], Cooperative Banks[2],…
INTRODUCTION
Generally, in the e-commerce industry, particularly startups, they continuously strive to increase their user base to achieve scalability and meet the financial targets to showcase to their existing and…
Introduction
The Telangana High Court (‘HC’), in a landmark decision, has upheld the disallowance for expenditure incurred by Subsidiary Company for overseeing Holding Company’s projects. This significant ruling was made…
INTRODUCTION:
Adjudication orders have been issued against Longcheng Composites Private Limited (“the Company”), resulting in substantial penalties under two distinct sections of the Companies Act, 2013 ("Act"). These cases demonstrate…
Question 1: What is the amendment inserted in the Finance Act 2023?
Finance Minister Nirmala Sitharaman, while announcing the Budget for the financial year 2023-24, proposed a measure to support…
Sr. No.ParticularsCompanyLLP1. Governing LawThe Companies Act, 2013The LLP Act, 20082. LiabilityLiability of partners is limited to their capital contribution.Directors may or may not infuse capital in the Company. However, to become…
Sr. No.ParticularsCompanyLLP1. Governing LawThe Companies Act, 2013The LLP Act, 20082. LiabilityLiability of partners is limited to their capital contribution.Minimum 2 directors to be appointed for a private limited company. At…
Introduction
The Hon’ble Authority of Advance Ruling (AAR), West Bengal, has ruled on the eligibility of Input Tax Credit (‘ITC’) in the case of the 'sale and buyback' business model.…
Part 1: Unlocking the Power of Employee Stock Ownership Plans (ESOPs)
What is ESOP?
ESOPs, or Employee Stock Ownership Plans, are a dynamic approach to employee compensation, granting employees ownership…
Introduction
The Ministry of Corporate Affairs vide notification dated February 14, 2024, established a Central Processing Centre (“CPC”) to serve as a hub for various corporate filings, streamlining procedures, and…
Chart on Closing a Deal in 30 Days
Understanding the Landscape:
Early-Stage Focus: This guide is specifically designed for early-stage startups seeking pre-seed or seed funding, typically at the idea stage…
Introduction
On July 28, 2023, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman announced the initiation of the direct listing of Indian companies on GIFT-IFSC exchanges in…
Introduction
The Hon’ble Income Tax Appellate Tribunal (ITAT) Mumbai, held that reduction of share capital shall be deemed to be capital loss and not a notional loss where the same…
Introduction
The Securities and Exchange Board of India (SEBI) has issued a circular that introduces a new framework for the Offer for Sale (“OFS”) of shares to employees through the…
In today's knowledge-driven economy, the true value of a company often lies not in its physical assets, but in its intellectual property, software, brand, and customer relationships. This dramatic shift…