AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
FeaturedCalcutta High Court quashed a transfer pricing adjustment order under Section 92CA(3) of the Income Tax Act, holding that failure to grant a personal hearing and record reasoned findings violates principles of natural justice.
FeaturedRBI has issued a circular prohibiting Authorised Dealers from allowing clients to rebook cancelled foreign exchange derivative contracts involving INR. The move aims to prevent speculative positioning and ensure orderly forex markets.
FeaturedGujarat High Court quashes reopening of assessment based on misreading of audit findings, calling it mere change of opinion.
FeaturedCalcutta High Court quashed a transfer pricing adjustment under Section 92CA(3) due to denial of personal hearing and inadequate reasons.
FeaturedGST Council proposes scrapping arrest powers and raising prosecution threshold to ₹5 crore, with reduced imprisonment. The reforms reflect a de-criminalisation push in indirect tax enforcement.
FeaturedGujarat High Court has ruled that reopening a completed scrutiny assessment solely based on a misreading of the audit report—without fresh tangible evidence—is invalid and amounts to change of opinion.
FeaturedThe Calcutta High Court has quashed a transfer pricing order passed under Section 92CA(3) of the Income Tax Act, 1961, holding that the failure to grant a personal hearing and record adequate reasons vitiated the proceedings.
Featured57th GST Council meeting proposes thresholds for notices, ITC, arrests, and reforms on e-invoicing and returns to ease compliance.
FeaturedSupreme Court rules cement dealers cannot claim both 6% CST concession and partial exemption under Rajasthan's 1986 notification in same year.
FeaturedBombay HC rejects anticipatory bail for father and son in ₹300 crore fake GST invoicing case linked to dummy firms.
FeaturedThe ICAI removed a CA's name for one year for failing to report material financial irregularities and going concern issues in a case involving ₹1,150 crore siphoning. The order underscores auditors' duty of diligence.
FeaturedThe GST Council announced zero tolerance for fake ITC fraudsters using AI-driven, high-risk profiling tools to detect and prevent fraudulent claims.
FeaturedThe GST Council has approved a faster refund mechanism requiring 10-day acknowledgment and 90% provisional sanction based on risk profiling.