AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has amended the directives on Income Recognition, Asset Classification, and Provisioning for All India Financial Institutions to strengthen financial reporting standards.
The Reserve Bank of India has announced directions for the disbursement of government pensions by Agency Banks, emphasizing clarity in implementation processes. These guidelines are designed for the financial year 2026-27.
The Reserve Bank of India has issued new directions regarding the conduct of government business by Agency Banks, focusing on the payment of agency commission and improved oversight measures. These directions are effective for the financial year 2026-27.
The Saket District Court ruled in favor of independent artist Anamika Sood, affirming her ownership of the song 'Ferraree'. This case highlights broader issues regarding copyright misuse.
The Pune ITAT ruled that Section 68 applies to customer advances, affirming that real estate developers must substantiate these credits to avoid tax complications.
The Bombay High Court ruled that compensation under the National Highways Act is exempt from TDS as per the Land Acquisition Act. This decision quashed earlier orders imposing TDS deductions.
The Tribunal has clarified that the limitation period for invoking guarantees begins with the demand notice, not the classification of NPA, affecting timelines in corporate insolvency resolutions.
The Competition Commission of India has initiated a probe into five-year restrictive clauses in beauty pageant contracts that allegedly hinder participant mobility. The matter will now be investigated by the Director General.
MCA has introduced amendments in CSR Policy Rules recognizing new channels for CSR implementation through Social Stock Exchange-listed NPOs.
New amendments by the MCA allow companies to use a portion of CSR funds through Zero Coupon Zero Principal instruments on the Social Stock Exchange.
The Madras High Court has ruled that show cause notices issued by officers not designated as 'proper officers' are void. This ruling quashes the DRI's show cause notice, mandating the return of bank guarantees to the petitioner.
The Madras High Court has quashed the equalisation levy demand on Zoho's reimbursements made to its US subsidiary, ruling it exempt under current tax provisions. This decision orders a reconsideration of a Rs. 57.1 crore refund claim.
The Madras High Court upheld a Rs.700 crore income tax demand, clarifying that assessment orders made during the Settlement Commission proceedings were valid. This ruling reinforces the jurisdiction of assessing officers in cases where interim court orders are involved.