Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT Delhi ruled that State Electricity Board (SEB) rates represent the appropriate benchmark for captive power transfers, overruling IEX rates.
The Income Tax Department has made available the Excel utilities for filing ITR-1 and ITR-4 for the assessment year 2026-27, facilitating taxpayer compliance.
The RBI has issued amendment directions on responsible business conduct aimed at improving governance within regional rural banks and safeguarding consumer interests.
The RBI has issued amendments to the directions governing responsible business conduct for All India Financial Institutions. This aims to enhance corporate governance standards and protect consumer interests.
The RBI has issued operational directions for the disbursement of government pensions through Agency Banks. These new provisions are aimed at ensuring a smooth implementation of pension payments and enhancing the accountability of banking institutions involved.
CESTAT ruled that Bluetooth wireless earphones should be classified under heading 8518 for audio devices rather than as data transmission machines, reaffirming their primary function.
CESTAT Ahmedabad ruled that a partnership firm penalized under customs law cannot have a separate penalty imposed on its partners for the same violation unless specifically provided by statutes.
The ROC has penalized a director for erroneous reporting of AGM dates in Form AOC-4, underscoring the responsibility of authorized signatories for compliance accuracy.
The ROC has imposed penalties on a company for submitting an incorrect shareholder list in its MGT-7 return, highlighting the need for precision in corporate filings.
ROC Kolkata has fined a company for improper shareholder information in its MGT-7A annual return, signaling the importance of accurate disclosure in corporate filings.
ROC Kolkata has penalized a company for inaccurately declaring its subsidiary status in AOC-4, asserting that mistakes in corporate filings can lead to penalties even after correction.
The ROC has ruled that incorrect filings of e-forms like AOC-4 can attract penalties even if subsequent corrections are made, emphasizing the significance of accurate corporate reporting.