Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT upheld a ₹2.05 crore penalty on a Zee Group entity for claiming depreciation and amortization on accommodation entries detected during a departmental survey.
The Kerala High Court held that issuing a Show Cause Notice (SCN) based solely on preliminary audit observations, which are not finalised findings, is legally unsustainable.
CESTAT quashes customs duty demand on scrap imports for lack of evidence showing undervaluation or manipulation.
Allahabad High Court upheld gold confiscation, ruling GST invoices insufficient to rebut presumption under Section 123 without credible evidence.
RBI now requires all goods and services exporters to file an Electronic Declaration Form (EDF) with their designated banks as a precondition for realization of export proceeds.
ICAI removed a CA's name from the register for one year for audit failures related to non-reporting of material financial irregularities and going concern risks in a case involving ₹1,150 crore siphoning.
The Gujarat High Court has held that reopening a completed assessment is invalid if based solely on a misreading of the audit report or mere change of opinion, absent fresh material indicating escapement of income.
The Calcutta High Court has quashed a transfer pricing order under Section 92CA(3) of the Income Tax Act, holding that the failure to grant a mandatory personal hearing and record reasons vitiated the proceedings.
Gujarat High Court held that grievances over non-supply of Relied Upon Documents (RUDs) must be challenged before the Appellate Authority, not via writ, as such issues are within the statutory appellate framework under GST law.
RBI to conduct an Open Market Sale of ₹25,000 crore Government of India securities on October 13, 2026, via multiple-price, multi-security auction to absorb liquidity.
Reserve Bank of India has launched a special window to meet the entire daily dollar requirements of Indian Oil Corporation, HPCL, and BPCL. The facility, effective October 12, 2026, involves USD sales through designated banks to ensure smooth oil import financing.
The ICAI removed a chartered accountant’s name from the register for one year for failing to report massive financial siphoning and audit lapses involving ₹1,150 crore.