Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedThe Calcutta High Court has quashed a transfer pricing order passed under Section 92CA(3) of the Income Tax Act, 1961, holding that the failure to grant a personal hearing and record adequate reasons vitiated the proceedings.
Featured57th GST Council meeting proposes thresholds for notices, ITC, arrests, and reforms on e-invoicing and returns to ease compliance.
FeaturedSupreme Court rules cement dealers cannot claim both 6% CST concession and partial exemption under Rajasthan's 1986 notification in same year.
FeaturedBombay HC rejects anticipatory bail for father and son in ₹300 crore fake GST invoicing case linked to dummy firms.
FeaturedThe ICAI removed a CA's name for one year for failing to report material financial irregularities and going concern issues in a case involving ₹1,150 crore siphoning. The order underscores auditors' duty of diligence.
FeaturedThe GST Council announced zero tolerance for fake ITC fraudsters using AI-driven, high-risk profiling tools to detect and prevent fraudulent claims.
FeaturedThe GST Council has approved a faster refund mechanism requiring 10-day acknowledgment and 90% provisional sanction based on risk profiling.
FeaturedDelhi High Court upheld separate search warrants under Section 132 for a couple’s premises and bank locker located at a third party’s address, affirming reasonable belief and jurisdictional compliance.
FeaturedNCLAT ruled that Income Tax Department cannot set off refunds against tax dues during IBC moratorium. Refund of ₹90.42 lakh directed to corporate debtor.
FeaturedThe RBI issued new directions on the Credit Valuation Adjustment (CVA) Framework for Commercial Banks, enhancing risk management for derivative exposures.
FeaturedThe RBI issued the Twelfth Amendment Directions, 2026, updating capital adequacy norms for Commercial Banks, including changes to legal opinion requirements and valuation adjustments for incurred losses.
FeaturedThe Reserve Bank of India (RBI), on October 7, 2026, increased the policy repo rate under the Liquidity Adjustment Facility (LAF) from 5.25% to 5.50% with immediate effect. The decision, taken by the Monetary Policy Committee (MPC), aims to recalibrate monetary stance in response to evolving inflationary pressures.