The debate to replace the extant 1961 Code has been around for over a decade, with the first serious attempt made by former finance minister, P Chidambaram, in 2009, when a working paper was released for public consultation. The stated intent of the new code was to make it concise, lucid, and easy to read in order to reduce disputes. Earlier this year, the Ministry of Finance opened its portal for public comments, eliciting suggestions in four categories….