Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Calcutta High Court has permitted the continuation of a police investigation into alleged conspiracy and forgery by Eraaya Lifespaces, ruling that the allegations are not entirely improbable.
NCLAT has condoned a 15-day delay in an appeal e-filed at 9 PM on the last permissible day, affirming that digital filing aligns with the intent of the Insolvency and Bankruptcy Code (IBC). The ruling emphasizes the accessibility of justice through digital means.
The ITAT has granted tax relief by deleting an under-reporting penalty linked to an education cess claim deemed bonafide. This ruling clarifies the implications of retrospective amendments on taxpayer liabilities.
The ITAT has held that loose sheets found during a search, lacking corroborative evidence, cannot justify an addition under Section 69 of the Income Tax Act. This ruling sets a precedent for the treatment of unverified documents in tax assessments.
The ITAT has directed a fresh hearing regarding ₹53 lakh cash deposits of a taxpayer, acknowledging claims of mental and neurological illness. This order aims to ensure fairness in tax assessments.
The ITAT has determined that interest paid by the Bank of Nova Scotia to the Reserve Bank of India for failing to meet the Statutory Liquidity Ratio (SLR) is compensatory and thus deductible. This marks a significant ruling regarding the treatment of such interest payments.
Cyril Amarchand Mangaldas facilitated Kotak Mahindra Bank's acquisition of Deutsche Bank's Private Banking and Wealth Management business, showcasing their expertise in financial transactions.
The Karnataka High Court offers interim protection to aggregators under the new Gig Workers Act, while also mandating the deposit of welfare fees.
The Jammu and Kashmir High Court has quashed a 2016 criminal case against Hindustan Coca-Cola, ruling that dual MRPs were permissible under the law at the time.
The Kerala High Court has set aside a rejection by the NCLT concerning additional objections from a corporate debtor in IBC proceedings, emphasizing the NCLT's discretion to accept further pleadings for fair adjudication.
The Calcutta High Court returned a plaint against a National Company Law Tribunal (NCLT) valuation, stating its lack of territorial jurisdiction and the statutory bar on interference in ongoing liquidation proceedings.
SEBI has amended the framework for handling clients' unpaid securities, introducing direct demat pay-out with auto-pledge. The new regulations set specific timelines for pledge invocation, release, and liquidation.