AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
SEBI has proposed a framework for distributing fixed income securities through online bond platforms, inviting public comments for the implementation of eligibility and fees by September 11, 2026.
The Reserve Bank of India (RBI) has issued updates regarding the implementation of Section 51A of the UAPA following amendments to the UNSC’s 1267/1989 sanctions list. The amendments encompass the addition and revision of specific entities, ensuring compliance with international mandates.
The Delhi High Court has addressed critical aspects of pharmaceutical patent law in the case of Intra Cellular Therapies v. Controller of Patents, revisiting coverage disclosure and the therapeutic efficacy threshold under Section 3(d).
The Comptroller and Auditor General of India has reported significant gaps in the Goods and Services Tax Network (GSTN), alongside noted deficiencies in compliance regarding works contract taxation. These issues could lead to potential revenue losses.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) against Sun Granite Export due to a default of ₹3.95 crore. This decision underscores the strength of documentary evidence including loan records and bank statements in insolvency proceedings.
The ITAT has ruled that profits from the sale of Transfer of Development Rights (TDR) are taxable under the head 'Capital Gains,' clarifying the tax implications when existing land is surrendered.
The ITAT has ruled that inadequate grounds based on mere suspicion cannot justify income additions, affirming that buyer PAN is not required for cash jewellery transactions below ₹2 lakhs.
The ITAT has quashed an assessment order against Nussli Switzerland, ruling that mechanical approval under Section 153D of the Income Tax Act is invalid. This reinforces the necessity for due diligence in approval processes.
The ITAT ruled that an income return filed solely in response to a Section 148 notice does not incur penalties if the taxpayer can demonstrate a reasonable cause for prior non-filing. This decision clarifies the thresholds for deemed concealment under Section 271(1)(c) of the Income Tax Act.
The RBI has announced amendments to the UNSC’s sanctions list under Section 51A of UAPA, impacting financial institutions. Banks and financial entities should ensure compliance with these updates.
The NCLAT upheld that a clerical rectification does not restart the limitation period for IBC appeals, confirming that existing disputes are subject to prior limitation constraints.
The Supreme Court restored a negligence finding in a motor accident case, affirming that a criminal acquittal does not preclude civil liability in negligence claims.
The Supreme Court quashed an FIR under various IPC sections, determining that civil disputes should not be framed as criminal cases. The decision underscores the need for proper classification of disputes.