Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT ruled that capital gains addition cannot be maintained if the underlying sale transactions are contested in a civil court. This clarifies the threshold for reassessment in cases involving disputed transactions.
The RBI has issued amendments to the directions regarding the resolution of stressed assets among financial institutions, enhancing the guidelines for managing and resolving non-performing assets.
The RBI has amended the directions concerning income recognition and asset classification for financial institutions, aimed at enhancing clarity and compliance in the recognition of income and classification of assets.
The RBI has updated its directions on responsible business conduct for all Indian financial institutions, emphasizing ethical practices and compliance within the banking sector. This initiative is part of broader regulatory reforms aimed at improving financial stability.
The Reserve Bank of India has amended directions pertaining to credit risk management for all India financial institutions, focusing on effective risk assessment and management strategies. This amendment aims to address current challenges in the financial sector.
Zee Entertainment has filed a lawsuit against Nykaa for allegedly using copyrighted music in Instagram reels without permission, demanding INR 2 crores in damages. This case underscores ongoing tensions in social media copyright practices among brands and content creators.
The Delhi High Court has ruled in favor of Anil Kumar Tiwari, highlighting the complex intersection of personality rights and IP law in India. This decision underscores challenges faced by jurisprudence in personality rights amidst evolving social commentary and meme culture.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) due to the failure of an OTS proposal, emphasizing the necessity of compliance and timely payments.
The Delhi High Court has ruled that private unaided recognized schools can raise fees without prior government approval if declared before the academic session. This ruling impacts school management practices across the region.
The Companies Act, 2013 mandates that most public and private companies issue and transfer securities only in dematerialised form, enhancing transparency. This implementation aims to minimize fraud and simplify ownership records.
The Insolvency and Bankruptcy Board of India (IBBI) has amended the PPIRP rules to ensure enhanced oversight on registered valuers and provide clearer frameworks for fair and liquidation values.
The Supreme Court upheld the Delhi High Court's ruling that unutilized MODVAT credit constitutes actual payment under Section 43B. This decision solidifies the interpretation of credit utilization in tax liabilities for businesses.