Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Indian residents investing in UAE businesses must comply with ODI norms and LRS limits, including net worth caps, AD bank reporting, and UIN requirements.
The Reserve Bank of India has mandated exporters to file an Electronic Declaration Form (EDF) with designated banks for all export transactions starting October 1, 2026.
The Institute of Chartered Accountants of India removed a CA's name from the register for one year for failure to report material financial irregularities and going concern risks in an audit.
The ITAT has quashed the reopening of an assessment due to insufficient reasons disclosed by the AO, holding that the reopening must be based on tangible material and not mere suspicion.
The ITAT has deleted an addition of ₹30 lakh arising from a survey surrender statement, holding that an uncorroborated oral admission during a survey cannot form the sole basis for a tax addition without supporting evidence.
The ITAT has deleted an addition of ₹3.89 crore under Section 56(2) of the Income Tax Act, holding that the anti-evasion provision does not apply to transfers of leasehold rights, which are distinct from land or building transactions.
Finance Minister Nirmala Sitharaman has indicated that the government is open to reviewing the long-term capital gains (LTCG) tax regime ahead of the Budget 2027, amid growing calls for reform from investors and industry stakeholders.
The ITAT has deleted an addition of ₹2.45 crore on account of in-house R&D deduction, holding that the Assessing Officer (AO) exceeded the scope of limited scrutiny by raising issues not specified in the notice under Section 143(2) of the Income Tax Act.
ITAT deletes ₹2.45 crore addition on R&D expenses, holding AO exceeded 'limited scrutiny' scope without prior approval for new issues.
Section 112(9) CGST provides deemed stay on recovery during GSTAT appeal if 25% pre-deposit is made, protecting taxpayers from coercive action.
Anticipatory bail denied in a Rs. 20 lakh GST fraud case involving forged invoices; court cites need for custodial interrogation.
Rajasthan High Court ruled that insolvency of a supplier under IBC does not excuse compliance with Section 16(2)(c) GST conditions for claiming ITC, even if tax remains unpaid.