Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Orissa High Court has set aside a ₹28.81 crore GST order due to a violation of natural justice principles. The matter has been remanded for a fresh consideration.
The Gujarat High Court has quashed a reassessment notice for AY 2012-13, ruling that it constitutes a mere change of opinion on an issue that had already been examined during the scrutiny assessment. This clarification emphasizes the principle against reopening assessments based on previously adjudicated matters.
The Reserve Bank of India has permitted the exclusion of eligible FCNR(B) and NRE-funded advances from the Adjusted Net Bank Credit (ANBC) for Priority Sector Lending (PSL) targets, contingent on certain deposit duration regulations. This decision intends to enhance liquidity and investment in eligible sectors.
The Delhi High Court ruled that an employee cannot be penalised for their employer's tax deduction default. This decision is based on Section 205 of the Income Tax Act, which prevents the tax department from deducting amounts from an employee when tax has already been deducted.
The NCLT has admitted Canara Bank's insolvency plea against a corporate guarantor worth ₹119.64 crore, confirming that the Corporate Insolvency Resolution Process (CIRP) of a principal borrower does not preclude the initiation of insolvency proceedings against the guarantor.
The NCLT has ruled that a personal guarantor moratorium cannot impede independent corporate insolvency proceedings against a debtor with a financial default of ₹46.62 crore. This decision underscores the separate legal identities of guarantors and corporate debtors.
The ITAT ruled in favor of Reliance Jio, determining that payments made to non-resident telecom operators were not subject to taxation in India under applicable Double Taxation Avoidance Agreements (DTAAs).
SEBI has proposed an exemption allowing eligible listed issuers to forgo mandatory merchant banker appointments for small-value debt private placements of up to ₹10,000. This initiative aims to enhance issuance efficiency and reduce compliance burdens.
The NCLT has sanctioned the merger of Aureustech Systems with Happiest Minds Technologies, effective April 1, 2026.
The NCLAT has set aside an NCLT order, clarifying that Section 98 necessitates proof of impracticability in convening an EGM.
The Reserve Bank of India has published the Fourth Amendment Directions, 2026 updating CRR and SLR requirements for Small Finance Banks, easing regulations on fresh deposits.
The Reserve Bank of India has released Fourth Amendment Directions, 2026 updating the CRR and SLR for Regional Rural Banks, providing exemptions for managing fresh deposits.