AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Government's fee waiver on sports-related IP raises questions about ownership and exclusivity. This article examines the implications for sports culture and access.
The Bhojpur District Consumer Disputes Redressal Commission ordered the Railways to compensate passengers ₹20,000 for being denied seats despite holding confirmed tickets.
The Karnataka High Court has granted protection from arrest to officials of LegalPay Technology in a cyber fraud case involving a fake marriage invitation. The court ordered the state not to arrest the individuals associated with the company.
The ITAT ruled that Section 2(22)(e) of the Income Tax Act cannot apply where cash shortages pertain to proprietary concerns rather than corporate entities.
The ITAT mandated the application of the LIBOR rate for associated enterprises’ loans in USD, moving away from the State Bank of India’s PLR.
The ITAT enforces the principle that income cannot be taxed without actual accrual, thus removing unjustified notional interest additions on advances.
The ITAT has directed the adoption of the LIBOR rate for loans reducible in USD and deleted notional interest adjustments on business advances.
The ITAT restored cases to the Assessing Officer, directing a fresh consideration of all evidence due to the lack of verification for e-filing submissions.
The ITAT confirmed the deletion of an adjustment related to comparables, noting that maintenance payments were not considered substantial for the assessment year. This ruling clarifies the treatment of IT infrastructure expenditures.
The RBI has enhanced its Credit Risk Management framework for Non-Banking Financial Companies through a second amendment, promoting stability and compliance in the sector.
The RBI has implemented a second amendment to the Credit Risk Management Directions for Rural Cooperative Banks, emphasizing enhanced compliance and risk management.
The RBI has made amendments on the resolution of stressed assets for All India Financial Institutions, reinforcing guidelines to manage financial duress effectively.
The RBI has announced a second amendment to its Credit Risk Management Directions for Regional Rural Banks, aimed at enhancing risk practices and compliance within the sector.