Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Madras High Court upholds denial of FCRA registration to a trust that misdeclared its religious activities, affirming disclosure requirements for religious entities.
RBI overhauls export-import rules under FEMA 2026, streamlining EDF filing, advance payments, set-off norms, and AD bank enforcement powers.
RBI deletes Paragraph 38 on option premium deferment from its regulatory framework, effective 1 April 2027, removing deferral privileges for commercial banks.
DGFT has extended the RoDTEP scheme for exporters until December 31, 2026, without altering existing rates or value caps. The extension provides stability amid ongoing WTO negotiations.
RBI now requires all goods and services exporters to file an Electronic Data Format (EDF) declaration with designated banks from October 1, 2026. The move aims to streamline forex monitoring and export data capture.
The ITAT has held that statements, spot verification, and post-search inquiries alone cannot serve as incriminating material to justify additions under Section 153A, deleting loan and interest disallowances under Sections 68 and 69C.
The Gujarat High Court held that reopening a scrutiny assessment is invalid if it is based on a mere change of opinion or misreading of an audit report, without fresh tangible material indicating escapement of income.
The 57th GST Council proposed return reforms to resolve input tax credit mismatches automatically, enhancing compliance efficiency and reducing disputes.
The 57th GST Council meeting recommended raising the threshold for tax notices under Sections 73 and 74 to ₹10,000, aiming to reduce litigation burden on small taxpayers.
The NCLAT has upheld the extension of a resolution plan timeline, ruling that delays in property handover not attributable to the resolution applicant cannot burden the successful bidder.
The RBI increased the Bank Rate to 5.75%, effective immediately, impacting penal interest rates for CRR and SLR shortfalls by banks.
The RBI has issued the Sixth Amendment Directions, 2026, updating capital adequacy norms for Small Finance Banks, particularly legal opinion requirements for clearing members.