Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
SAFEMA Tribunal upheld benami attachment of properties worth ₹2.65 crore, rejecting an undocumented family loan as insufficient to rebut the presumption under PMLA.
SAFEMA Tribunal deleted a ₹4.08 crore FEMA charge due to lack of corroborative evidence, holding that a surname on unverified loose sheets cannot establish ownership or contravention.
The Reserve Bank of India now requires all goods and services exporters to submit an Electronic Declaration Form (EDF) to designated banks effective October 1, 2026, to streamline forex monitoring.
The Institute of Chartered Accountants of India removed a CA’s name from its register for one year for failing to report ₹1,150 crore fund siphoning and ignoring going concern risks.
The Himachal Pradesh High Court affirmed that admission of a signature on a blank cheque raises a statutory presumption under Section 139 of the Negotiable Instruments Act, and failure to rebut it leads to conviction for dishonour.
The Kerala High Court ruled that a commercial suit filed before an ordinary civil court cannot be rejected outright for lack of jurisdiction under the Commercial Courts Act; it must instead be returned for presentation to the appropriate forum.
The Income Tax Appellate Tribunal (ITAT) deleted a Rs. 1.66 crore addition made on alleged adat expenses of a commission agent, holding that the assessee had complied with TDS provisions under Section 194H, thus validating the legitimacy of the expenditure.
The Kerala High Court upheld GST recovery proceedings against Satwa Solutions, ruling that a taxpayer cannot remain silent after a demand notice and later challenge the recovery without valid explanation.
The ITAT deleted an income tax addition of Rs. 1.66 crore on a commission agent's adat expenses, holding that TDS compliance and documentary support substantiated the claimed expenditure.
The RBI amended the methodology for minimum capital requirements for counterparty credit risk in commercial banks to align with evolving international standards, effective October 7, 2026.
The RBI now permits scheduled banks to maintain daily CRR at no less than 90% of requirement, subject to average fortnightly compliance, enhancing operational flexibility while ensuring liquidity stability.
The RBI has updated its foreign exchange risk reserve requirements under the Risk Management and Inter-Bank Dealings framework to strengthen market stability amid evolving forex conditions.