PEOPLE
Somesh Jain
Advisory. Strategy. Transaction.
B.A. LL.B. (Hons.), Gujarat National Law University
ENROLMENT NO. D/653/2011
+91 95607 12505
karan@sachdevjain.com
Somesh Jain has over 10 years of experience in tax, regulatory and commercial laws. His practice spans strategic tax advisory, transaction structuring, investigations and litigation, with a particular focus on international taxation, cross-border transactions, indirect taxation and foreign exchange laws. He is an Advocate, Chartered Accountant (All India Rank 9), and holder of the Post Qualification Diploma in International Taxation. He was previously an Associate Partner in the Tax Litigation & Advisory Practice at Lakshmikumaran & Sridharan, Mumbai.
Professional Experience
Advocate, Legal Practitioner, New Delhi
OCTOBER 2023 – PRESENT
- Advising domestic and multinational clients on corporate tax, international tax, indirect tax, foreign exchange and allied regulatory laws.
- Structuring domestic and cross-border transactions for tax efficiency and regulatory compliance.
- Representing clients before tax authorities, tribunals, High Courts and the Supreme Court in tax and regulatory disputes.
- Assisting clients during investigations, audits and adjudication proceedings under the Income Tax Act, GST, Customs and allied laws.
Joint Partner, Lakshmikumaran & Sridharan, Mumbai
OCTOBER 2016 – SEPTEMBER 2023
- Advised domestic and multinational clients on tax, foreign exchange and regulatory matters, and structured cross-border transactions, mergers, demergers and supply-chain arrangements.
- Briefed senior counsel and independently argued litigation before courts, tribunals and departmental authorities, including on GST implementation and input tax credit optimisation.
Notable Matters
Landmark Litigation
Mohit Minerals (Supreme Court)
Constitutional challenge to the levy of GST on ocean freight; the Supreme Court struck down the levy as unconstitutional.
Bai Mamubai Trust (Bombay High Court)
GST on damages arising from breach; the High Court held that such damages are not subject to GST.
Bundle Technologies (Karnataka High Court)
Taxes recovered during departmental investigations without authority of law; the High Court directed the tax department to refund taxes illegally recovered.
TUF Metallurgical (A.P. High Court)
Challenge to the levy of export duty on DTA procurements by SEZ units; the High Court quashed the impugned rule as ultra vires the SEZ Act.
Advisory & Transaction Structuring
EV Business Demerger
Tax-efficient restructuring and optimisation of input tax credit for a demerger of the EV division of a leading automobile manufacturer.
US Inbound Investment
Structuring of a US-based investment into the Indian lifestyle sector from an international taxation and exchange law perspective.
Cross-Border Regulatory Advisory
Advised a Japanese multinational on the regulatory implications of imported machinery in a slump sale and leasing arrangement.
Real Estate Transactions
GST and income tax structuring of a real estate joint development arrangement.
MEET THE OTHER PARTNER
Litigation. Disputes. Advocacy.