Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Himachal Pradesh High Court held that admission of a signature on a blank cheque raises a presumption of liability under Section 139 of the Negotiable Instruments Act, and failure to rebut it leads to conviction for dishonour.
The Kerala High Court held that a commercial suit filed before an ordinary civil court cannot be rejected outright for lack of jurisdiction under the Commercial Courts Act; the plaint must instead be returned for presentation to the appropriate forum.
The ITAT has deleted an addition of Rs. 1.66 crore made by the AO on allegedly disproportionate adat expenses claimed by a commission agent, holding that full TDS compliance and supporting documentation substantiated the claim.
CESTAT ruled that restrictions on CENVAT credit under Rule 8(3A) of the CENVAT Credit Rules are unsustainable when the taxpayer has paid principal dues and interest.
The Gujarat State Tax Appellate Tribunal held that a tax demand under Section 74 of the CGST Act cannot stand if the department fails to prove fraud, suppression, or wilful misstatement.
The Kerala High Court dismissed a writ petition challenging GST recovery, ruling that a taxpayer cannot remain silent during adjudication and later approach the court when recovery proceedings begin.
The ITAT deleted a ₹1.66 crore addition on adat expenses claimed by a commission agent, accepting that TDS compliance evidenced the legitimacy of the expenses.
The Reserve Bank of India has updated its Master Direction on Risk Management and Inter-Bank Dealings, introducing revised rules for foreign exchange derivative rollovers and IFSC unit operations.
Preliminary balance of payments data for August 2026 shows a current account deficit of $5.2 billion, narrowing from $6.1 billion in August 2025, driven by export performance and remittance inflows.
On October 16, 2026, the RBI issued a set of Frequently Asked Questions (FAQs) clarifying the Foreign Exchange Risk Reserve (FERR) requirements introduced via AP(DIR Series) Circulars No. 26 and 27 dated October 10 and 12, 2026.
On October 16, 2026, the Reserve Bank of India conducted an Additional Competitive Underwriting (ACU) auction for the re-issue of a government security worth ₹34,000 crore. The cut-off rate for underwriting commission payable to Primary Dealers was set based on competitive bidding.
Calcutta and Delhi High Courts differ on whether non-use cancellation proceedings under Section 47 trigger automatic stay of trademark infringement suits under Section 124. The split may require appellate resolution.