Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
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.
The Himachal Pradesh High Court held that an admitted signature on a blank cheque triggers a statutory presumption under Section 139 of the Negotiable Instruments Act, placing the burden on the accused to rebut it.
ITAT rules assessment orders for corporate returns below ₹20 lakh must be issued by ITOs, per CBDT instructions, not DCITs.
Calcutta High Court quashed a transfer pricing assessment order for failure to grant a personal hearing and record adequate reasons, affirming procedural fairness.
The Gujarat High Court held that grievances regarding non-supply of relied upon documents (RUDs) under GST Rule 138B must be challenged before the Appellate Authority, not via writ petition.