Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Reserve Bank of India has sanctioned the voluntary amalgamation of Bhavani Sahakari Bank Ltd. with TJSB Sahakari Bank Ltd., set to take effect on May 4, 2026. This strategic move aims to enhance operations and service to customers.
The Delhi High Court's recent order granting personality rights protection to Anil Kumar Tiwari highlights the complexities and ambiguities within Indian personality rights law.
The CESTAT Kolkata ruled that Indian currency cannot be confiscated under the Customs Act without clear evidence linking it to smuggling. Investigative statements alone do not suffice to justify cash seizure.
The ITAT Visakhapatnam quashed a Section 148 notice for reassessment initiated beyond the six-year limitation, affirming statute limitations in tax proceedings.
The Madras High Court ruled that an unregistered Joint Venture Agreement without actual transfer of possession does not trigger capital gains tax, providing clarity on tax liabilities in such transactions.
The RBI has released revised draft directions to enhance recovery practices, emphasizing borrower protection and transparency in loan recovery methods.
The SAFEMA Appellate Tribunal ruled that purchasing flats under third-party names using one's own funds constitutes a benami transaction. This interpretation relates to Section 2(9)(A) of the amended Benami Act.
The SAFEMA Appellate Tribunal ruled that routing demonetized cash through third-party accounts constitutes a benami transaction. This ruling clarifies that cash is considered property under the PBPT Act.
The SAFEMA Appellate Tribunal ruled that assets belonging to an alleged abettor cannot be attached under the PBPT Act unless proven to be benami properties independently. The tribunal emphasized that the Act allows for attachment only of benami properties held by a benamidar.
The Supreme Court upheld the Delhi High Court's ruling which clarified that unutilized MODVAT credit constitutes actual payment under Section 43B, impacting tax assessments.
The IBBI has implemented the third amendment for 2026, establishing a single valuer for each asset class in MSME liquidation, improving efficiency in the process.
The IBBI's amendment allows for a single valuer in MSME insolvency cases, expected to reduce compliance costs and expedite resolution timelines for smaller businesses.