AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT ruled that a bona fide error in the application form cannot serve as a basis to deny registration under Section 12A of the Income Tax Act. This decision highlights the leniency towards honest mistakes in documentation.
The ITAT ruled that amounts reflected in Form 26AS cannot be automatically deemed taxable turnover. Verification and reconciliation with actual books are essential before such determination.
The RBI has updated its directions on responsible business conduct specifically for regional rural banks, aiming to ensure ethical practices and compliance in their operations.
The RBI has released amendments to the directions on credit risk management for non-banking financial companies to strengthen their risk management practices and comply with regulatory standards.
The RBI has amended the credit risk management directions for rural cooperative banks, ensuring that their practices align with the evolving regulatory landscape and risk management standards.
The RBI has made amendments to the credit risk management directions for regional rural banks, aligning their practices with current financial regulations. This aims to enhance the overall risk management framework within rural banking.
The RBI has issued new directions related to the disbursement of pensions by agency banks, aiming for enhanced governance and efficient processing. These guidelines are part of the RBI's continuous effort to strengthen the framework surrounding public financial management.
The Reserve Bank of India has released new directions for agency banks concerning government business, including payment of agency commission and oversight mechanisms. These directions are aimed at enhancing transparency and accountability in the conduct of government banking operations.
The Reserve Bank of India has announced an auction for 91-Day, 182-Day, and 364-Day Treasury Bills totaling ₹18,000 crore, set for May 27, 2026.
The Reserve Bank of India has released its May 2026 Bulletin detailing the state of the domestic economy, indicating resilience in various sectors amidst global uncertainties.
The Reserve Bank of India has confirmed the premature redemption price for the 2021-22 Series-I Sovereign Gold Bonds, effective from May 25, 2026, following the guidelines set in the initial notification.
The Reserve Bank of India is set to conduct a Variable Rate Repo auction on May 25, 2026, with an amount of ₹150,000 crore. This move aims to provide liquidity to the banking system amid evolving market conditions.
Recent deliberations by the Delhi High Court concerning Section 3(k) of the Indian Patents Act expose ongoing uncertainties in patentability criteria. This highlights the need for consistent and clearer guidelines in interpreting this contentious provision.