Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT ruled that reassessment proceedings through Section 148 of the Income Tax Act issued by the Jurisdictional Assessing Officer (JAO) necessitate remand for fresh adjudication. This decision highlights the procedural importance of adherence to established protocols in tax assessments.
The Reserve Bank of India has amended its guidelines on Responsible Business Conduct for Regional Rural Banks to enhance accountability and ethical operations.
The Reserve Bank of India has introduced second amendment directions aimed at strengthening credit risk management in Non-Banking Financial Companies (NBFCs).
The Reserve Bank of India has issued updates to the directions concerning the resolution of stressed assets for All India Financial Institutions, promoting financial stability in the sector.
The Reserve Bank of India has released second amendment directions aimed at improving credit risk management in Regional Rural Banks, enhancing overall financial resilience.
The Reserve Bank of India has amended its directives governing income recognition, asset classification, and provisioning in a bid to bolster the financial health of All India Financial Institutions.
The Reserve Bank of India has issued amendments to the Credit Risk Management directives applicable to All India Financial Institutions, aimed at enhancing their ability to manage financial stress effectively.
The Reserve Bank of India has introduced new directions governing the conduct of government business by Agency Banks, focusing on payment of agency commissions and oversight mechanisms. This aims to enhance transparency and efficiency in financial operations.
The Delhi High Court's recent ruling in favor of Anil Kumar Tiwari reveals the complexities surrounding personality rights jurisdiction in India, especially regarding social commentary and meme culture interactions.
The Delhi High Court issued an ex parte ad-interim order barring the use of a specific lyric line by defendants in Ivy Entertainment's case. This decision emphasizes copyright concerns regarding distinct song elements and lyric ownership.
MCA's amendment recognizes zero coupon zero principal instruments issued by NPOs on the Social Stock Exchange as valid for CSR, creating new funding opportunities while ensuring fund utilization safeguards.
The Ministry of Corporate Affairs (MCA) has expanded the eligibility criteria for Corporate Social Responsibility activities to include investments in Zero Coupon Zero Principal Instruments, thereby promoting funding through Social Stock Exchanges.