Share Tweet Plus One Pin It Email Print By: nitish kashyap November 10, 2018 3:36 pm Change Font Size The Bombay High Court has upheld the validity of the Maharashtra Tax on Lotteries Act, 2006 and held that lottery comes under the purview of betting and gambling. The division bench of Justice SC Dharmadhikari and Justice BH Dangre ruled that the state is empowered to levy tax on betting and gambling. Also, that the state government is empowered to prohibit or restrict within its state the sale of lottery tickets of any other state. Case Background The bench was hearing a writ petition filed by Sri Mangal Murty Marketing, a sub-distributor of state-organized lottery of Government of Arunachal Pradesh and Nagaland. The petitioner sought the Maharashtra Tax on Lotteries Act to be declared void, being ultra vires to the provisions of the Constitution. Also, a direction was sought to restrain the state levying and/or collecting tax on the sale of lottery … [Read more...] about Lottery Falls Within Purview Of Betting & Gambling; Says Bombay HC, Upholds Vires Of Maharashtra Tax On Lotteries Act, 2006 [Read Judgment]
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If Approved by Voters on November 2nd, California Ballot Initiative Would Suspend California’s Climate Change Law
If you want to see how policy and elections can either drive or derail renewable energy deployment one should pay attention to the political activity in California. Since the 1970s, California has been the leader among states as it relates to the development of policies to encourage the use of renewable energy, and this election year will be pivotal for California and the country on that front. On November 2nd Proposition 23 will be on the California’s ballot as an initiated state statute, and if approved it would suspend Assembly Bill 32 otherwise known as the Global Warming Act of 2006 (“the Act”). The Act, which is California's landmark clean air legislation, was passed by a Democratic Legislature and Republican Governor Arnold Schwarzenegger and requires that greenhouse gas (“GHG”) emission levels be cut to 1990 levels by 2020. The Act was scheduled to take effect in … [Read more...] about If Approved by Voters on November 2nd, California Ballot Initiative Would Suspend California’s Climate Change Law
Energy & Environmental Law Update – December 23, 2012
Energy and Climate DebateAfter the House failed to move forward with Speaker of the House John Boehner’s (R-OH) Plan B proposal to avoiding the fiscal cliff, President Obama called on Congress December 21 to pass a basic agreement on the fiscal cliff that would preserve middle class tax cuts and unemployment insurance funding, while laying the groundwork for growth and deficit reduction. However, the Administration has since expressed a willingness to settle for a less comprehensive package after a short Christmas recess, but doing so will still require bipartisan cooperation.An outcome for the tax extenders debate, as part of the fiscal cliff negotiations, remains up in the air. Whether or not $70 billion in tax extenders funding is even included in an final end of the year fiscal cliff avoidance package has yet to be determined, as Congress focuses primarily on blocking the full impact of $607 billion in tax increase and spending cuts scheduled to take effect in January. Though … [Read more...] about Energy & Environmental Law Update – December 23, 2012
Qui Tam Update: Recent Developments & Unsealed Cases November 2013
Trends and AnalysisWe have identified 32 health care-related qui tam cases unsealed since last month’s Qui Tam Update. Of those, only four were filed in 2013. The majority (23 cases) were filed in 2012, with the remainder dating back as far as March 2009.These 32 cases were filed in 18 states and the District of Columbia. Several cases were filed in historically active jurisdictions for False Claims Act cases, including the Eastern District of Pennsylvania, the District of Massachusetts, and the Southern and Eastern Districts of New York.The government declined to intervene in about 60% of the cases in which the unsealed filings included the government’s decision on intervention. The four cases profiled in this month’s Qui Tam Update are all cases in which the government has not intervened.Subject matter of claims:Half of the recently unsealed cases involved both state and federal claims.Fourteen of the 32 recently unsealed cases included … [Read more...] about Qui Tam Update: Recent Developments & Unsealed Cases November 2013
Investment Services Regulatory Update – November 2013
New Rules, Proposed Rules and GuidanceCFTC Adopts Rule Amendments to Harmonize Compliance Obligations for Commodity Pool Operators of Registered Investment Companies On August 13, 2013, the Commodity Futures Trading Commission (CFTC) adopted final regulations with respect to compliance obligations for commodity pool operators (CPOs) of registered investment companies. The final regulations (the Harmonization Rules) amend Part 4 of the CFTC’s regulations in order to harmonize the disclosure, reporting and recordkeeping compliance obligations of the CFTC and SEC applicable to entities registered with both regulatory agencies. (In February 2012, the CFTC amended CFTC Rule 4.5, which modified the exclusion from the definition of a CPO for funds by imposing limitations on the use of certain commodity interests. For funds no longer able to claim the exclusion from the definition of a CPO, the investment adviser is now required to register with the CFTC, thus becoming subject to … [Read more...] about Investment Services Regulatory Update – November 2013