AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Telangana High Court ruled that reassessment proceedings under the Income Tax Act cannot be challenged prematurely under Article 226. This ruling clarifies the scope of judicial review at preliminary stages.
The ITAT has ruled that a taxpayer cannot be taxed for demonetisation cash if they did not open a bank account. The decision is backed by evidence including an FIR and forensic report.
SEBI has amended its Online Bond Platform (OBPP) framework to allow for the introduction of IFSCA products and 54EC bonds, implementing new disclosure and compliance requirements.
SEBI has proposed simplified digital KYC norms for non-resident Indians (NRIs), overseas citizens of India (OCIs), and foreign nationals, eliminating the need for physical presence.
SEBI has issued a warning to investors against relying on live trading strategies and real-time stock market tips shared on social media, urging them to engage only with registered intermediaries.
The Reserve Bank of India has released the second amendment directions regarding Priority Sector Lending targets and classifications, which are aimed at enhancing the flow of credit to priority sectors in the economy.
The Reserve Bank of India (RBI) has penalized Progfin Private Limited with ₹2.70 lakh for failing to adhere to KYC regulations. This enforcement action reinforces the importance of regulatory compliance within the financial sector.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹8.10 lakh on Shri Ram Finance Corporation Private Limited for violations of governance and KYC directions. The penalty underscores the importance of regulatory compliance in the finance sector.
In response to current liquidity conditions, the Reserve Bank of India (RBI) will conduct a 7-day Variable Rate Reverse Repo auction on August 24, 2026. This initiative aims to manage liquidity effectively and stabilize short-term interest rates.
The Controller General of Patents has invited stakeholder comments on the Draft Manual of Patent and Trademark Office (Practice & Procedure) 2026. Comments are due within the next 30 days for patents and 15 days for trademarks.
The Rajasthan AAR has ruled that a 5% GST rate is applicable to job work involving handicrafts, provided certain conditions are met regarding classification and exemption. This clarifies the tax structure for artisans and industries.
The Uttarakhand High Court has permitted an application for revocation of GST registration that was canceled due to non-filing of returns, contingent upon the applicant filing due returns and payments. This decision underlines the court's approach to balancing compliance and relief.
The Karnataka High Court has ruled that a mandatory pre-deposit in service tax appeals can be discharged through transitional CENVAT credit, thereby relieving unnecessary financial burdens on appellants.