Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
SEBI has introduced a risk-based framework for market intermediary inspections for the fiscal year 2026-27, allowing joint inspections and reducing the frequency of inspections. This aims to optimize resource allocation and strengthen regulatory oversight.
The Reserve Bank of India has released the second amendment directions for Priority Sector Lending, updating the targets and classifications significantly. This change will affect lending practices across various sectors.
In the case of Novartis AG v. Venkata Narayana Active Ingredients, the Madras High Court has provided clarity on the evidentiary requirements for invoking the Bolar exemption, marking a notable development in pharmaceutical patent law.
The Ministry of Electronics and Information Technology has shortened the timeframe for social media platforms to remove unlawful content from 36 hours to 3 hours. This marks a significant change in content regulation, emphasizing the swift action required upon government or court notice.
The Hyderabad ITAT has condoned a 1,404-day delay in filing and declared that BSNL VRS-2019 compensation is eligible for full exemption under Section 10(10B).
The Supreme Court declined to interfere with a High Court decision that upheld the deletion of penalties under Section 271(1)(c) due to the issuance of an ambiguous notice, leaving the question of law open.
The Madras High Court has dismissed a writ petition challenging the findings of the RBI Ombudsman concerning GST refunds, bank guarantee charges, and non-performing asset (NPA) classification. The court affirmed that the Ombudsman had addressed the grievances appropriately.
The Bombay High Court has upheld the Directorate General of Foreign Trade's (DGFT) ban on sugar exports, despite significant financial losses to exporters. The court emphasized that its decisions are based on legal principles rather than anticipated outcomes.
InterGlobe Enterprises and Accor have received unconditional approval for their merger from the CCI. JSA Advocates facilitated the merger control process, advising the parties involved throughout.
The Karnataka High Court has granted anticipatory bail to GST dealers accused in a bogus input tax credit scheme, emphasizing that genuine purchasers cannot be penalized without proof of collusion.
The Allahabad High Court has held that failure to file objections before the Dispute Resolution Panel (DRP) bars the challenge to an assessment order, emphasizing procedural compliance in tax disputes. This reinforces the requirement for taxpayers to adhere to stipulated procedural mandates to ensure their rights to challenge assessments.
The Income Tax Appellate Tribunal (ITAT) has ruled that Fair Market Value (FMV) will be treated as the Cost of Acquisition under Section 49(2AA) in computing capital gains on Employee Stock Options (ESOPs) for Non-Resident Indians (NRIs). This ruling provides significant tax relief for NRIs in relation to capital gains taxation on ESOPs.