Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT has ruled that mere suspicion cannot substitute evidence in penny stock share transactions, deleting a ₹2.82 lakh addition under Section 68. This judgment reinforces the necessity of solid evidence in financial assessments.
The Orissa High Court has dismissed a writ petition challenging GST search authorisation, directing the petitioner to seek alternative remedies under Section 107. The ruling emphasizes the High Court's restraint in matters when effective alternatives are available.
The CESTAT has permitted BSNL to claim Cenvat credit for housekeeping services used for telecom operations, but denied credit for rent-a-cab services. This ruling clarifies the extent of applicable Cenvat credits within the telecommunications sector.
The Reserve Bank of India has released an update on the money market operations, detailing amounts and rates effective as of May 29, 2026. This information is pivotal for financial institutions managing liquidity.
The ITAT ruled that an uncontroverted affidavit seeking delay condonation under Section 249(3) cannot be disregarded without contrary evidence. This maintains the integrity of the procedural framework in tax filings.
The ITAT restored an appeal relating to additions on poultry farm lease rent, ruling that the taxpayer's ill health constituted sufficient grounds for failing to respond to a show cause notice (SCN). This ruling underscores the importance of context in tax appeal procedures.
The RBI announces an auction for Government of India Treasury Bills, detailing amounts and auction dates for May 2026.
The RBI has officially announced the withdrawal of ₹2000 notes from circulation, with deposit facilities available until October 7, 2023.
This week's SpicyIP review covers notable developments in Indian copyright doctrine, including the Delhi HC ruling in Bansal v. Philips and an evolving perspective on personality rights. The review highlights critical case summaries and ongoing discussions in IP law.
This article dives into the historical significance of the French language in the Berne Convention and its implications for international copyright law. It underscores the importance of understanding linguistic nuances in legal texts.
This article outlines the legal framework governing the buyback of shares, detailing procedural requirements, statutory compliances, and the conditions under which buybacks are permissible.
This article details conditions under which private companies may utilize MCA exemptions for borrowing, focusing on approval thresholds and scenarios requiring shareholder consent.