AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
Recent discussions reveal that significant copyright amendments are being considered without public consultation. Experts express concerns over transparency and stakeholder involvement in the legislative process.
The Kerala High Court has ruled that GST assessments must allow for the right to cross-examine, emphasizing that statements made in GST proceedings cannot negate this fundamental right.
The Punjab and Haryana High Court has quashed the retrospective cancellation of GST registration, ruling that the show cause notice did not provide for such a cancellation, thereby permitting a fresh notice.
RBI is seeking public comments on its draft Foreign Investment Rules, 2026 until August 31, promoting a simplified and principle-based foreign investment framework.
RBI's new reclassification of Non-Banking Financial Companies (NBFCs) outlines Type I and II criteria, defines public funds, and introduces conditions for deregistration. The phased implementation through PRAVAAH is set for July 2026.
The National Company Law Appellate Tribunal (NCLAT) has suspended the blanket ban imposed by the Insolvency and Bankruptcy Board of India (IBBI) on resolution professionals, emphasizing the need for balanced regulatory measures. The ruling highlights the importance of proportional penalties and adherence to the principles of natural justice.
The Madras High Court ruled that an Income Tax Show Cause Notice (SCN) imposing a 200% penalty must clearly specify the grounds of 'misreporting' as delineated in Section 270A.
The Madras High Court ruled that post-demerger revised Income Tax Returns (ITR) must be filed based on updated balance sheets and audited profit and loss accounts.
The Madras High Court ruled that an Income Tax Show Cause Notice imposing a 200% penalty must clearly specify the grounds of alleged misreporting to allow adequate defense.
The Punjab & Haryana High Court ruled that insolvency proceedings do not provide immunity to directors from prosecution under Section 138 of the Negotiable Instruments Act for cheque bounce cases.
The NCLAT has suspended a blanket ban on Resolution Professionals, determining that the IBBI overstepped its authority. This ruling emphasizes the need for balanced regulatory discipline and compliance.
The Supreme Court dismissed the Revenue's appeal concerning the classification of quicklime, affirming the CESTAT's ruling on its classification under CTH 2522.
The Madras High Court has quashed a duty drawback recovery order due to a 12-year delay in issuing the show cause notice and the lack of consideration of the petitioner's responses. This ruling underscores the necessity for timely action in customs matters.