Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedThe Karnataka High Court ruled that bona fide purchasers should not be penalized for a seller's failure to comply with GST regulations.
FeaturedThe Karnataka High Court has overturned a GST demand of Rs. 78.7 lakh against bona fide purchasers, emphasizing their immunity from penalties due to the seller's non-compliance. This reaffirms the legal protections available to innocent buyers in transactions.
FeaturedThe Income‑Tax (Amendment) Ordinance, 2026 introduces exemptions for Foreign Institutional Investors (FIIs) and the Bureau of Indian Standards (BIS) pertaining to government securities. This initiative aims to bolster global capital inflow into India's debt market and enhance investor confidence.
FeaturedThe Income Tax Act, 2025 replaces the old survey framework under Section 253, adding digital record access and taxpayer safeguards. This marks a significant change in how tax assessments and surveys are conducted in India.
FeaturedFrom April 1, 2026, buyback proceeds will again be taxed as capital gains, allowing the deduction of acquisition costs. This reverts to a model that taxes net gains instead of gross receipts.
FeaturedThe India-Oman Comprehensive Economic Partnership Agreement (CEPA) is now operational, providing duty-free access for the majority of exports. This agreement enhances trade relations and market access for goods and services.
FeaturedThe MCA has amended the CSR Rules, recognizing Zero Coupon Zero Principal instruments issued by Social Stock Exchange-listed NPOs, creating new implementation channels for CSR.
FeaturedThe Ministry of Corporate Affairs has amended CSR guidelines to include investments in Zero Coupon Zero Principal Instruments as valid CSR activities, enabling new funding opportunities for NPOs.
FeaturedThe Gujarat High Court quashed income tax demands for liabilities preceding a resolution plan approval, asserting they were extinguished under the IBC. This decision impedes enforcement of pre-existing tax claims post-insolvency.
FeaturedThe Delhi High Court annulled a ₹160.43 crore addition under Section 40(a)(i), ruling that the Assessing Officer violated mandatory directions from the Dispute Resolution Panel (DRP). This ruling underscores the significance of adhering to DRP guidelines in tax assessments.
FeaturedThe ITAT ruled that disallowances under Section 40(a)(i) cannot stand if corresponding income has been settled under the Vivad se Vishwas Scheme (VSVS).
FeaturedThe Madras High Court has upheld a penalty for intentional non-disclosure of capital gains, reinforcing the ITAT's ruling. The court noted that the taxpayer's actions amounted to intentional suppression despite prior advance tax payment.