AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Kerala High Court ruled that taxpayers can't be denied an opportunity to appeal due to bona fide mistakes regarding procedural requirements. This decision reinstates their right to adjudication based on merits.
The Kerala High Court affirmed that grounds for cancellation of GST registration under Section 29(2) of the CGST Act apply as per circumstances at the time of original registration, not amendments. Thus, fraud claims related to amendment applications do not justify revoking prior registrations.
The Kerala High Court ruled that property owners cannot evade capital gains tax merely because the sale proceeds were appropriated by a mortgagee bank. This decision reinforces the principle of liability in distress sales.
The Kerala High Court has remanded an appeal regarding anonymous donations back to the First Appellate Authority for a thorough reassessment. The Court emphasized the need for a final determination by the authority on the factual disputes presented.
SEBI has established a framework for ISIN-level freezing of promoter holdings during buy-back operations, aiming to enhance market compliance and integrity. This measure is part of a broader move towards preventive regulatory measures.
SEBI has introduced the GARUDA mechanism to streamline the filing process for Alternative Investment Funds (AIF), effective immediately. This initiative revises existing procedures for AIF scheme launches and aims to expedite regulatory compliance.
The RBI has released new directions for commercial banks detailing governance and compliance functions, effective July 31, 2026. This aims to strengthen banks' internal frameworks and oversight mechanisms.
The RBI has consolidated various supervisory instructions into a single document, repealing outdated circulars. This aims to streamline regulations for commercial banks effective July 31, 2026.
The Reserve Bank of India has implemented Section 51A of the UAPA regarding updates to the UNSC's Taliban sanctions. This involves amendments to a total of five entries as of July 31, 2026, which financial institutions must uphold.
The Government of India is set to buy back dated securities through auction, totaling ₹20,000 Crore. This initiative is aimed at debt management and optimizing interest costs.
Several State Governments are set to auction securities totaling ₹26,850 Crore to raise funds. This includes re-issues and fresh issues, aimed at financing state-level projects.
The Reserve Bank of India has operationalized a concessional swap facility for FCNR(B) deposits and External Commercial Borrowings, effective until September and December 2026, respectively. Reported inflows till July 31, 2026, have been collected from Authorised Dealer Banks.
The CCPA's findings against PhysicsWallah and McAfee raise concerns about misleading advertisements and forced actions. This analysis explores deeper implications for design interfaces and dark pattern regulations.