AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Bombay High Court ruled that 20-kg imported pet food bags qualify as retail packs, subjecting them to a 20% basic customs duty. This classification has implications for import regulation and duty compliance.
In a significant ruling, the Bombay High Court dismissed a contempt petition against ten customs officials, stating that there was no willful violation of a court order. This decision clarifies the definition of civil contempt in relation to statutory compliance.
The Gujarat High Court ruled that port and customs officials must act upon court orders when a maritime claim is secured via a Letter of Undertaking from the vessel’s P&I Club. This decision reinforces the legal obligations of customs authorities in maritime contexts.
In a significant ruling, the Karnataka High Court allowed an appeal by New India Assurance, adjusting the assessment of passive property income by recognizing the legal admissions in the deceased's Income Tax Return. The valuation of age proof was clarified under legal principles.
The Kerala High Court has reinstated a ten-year-old income tax appeal that was dismissed, stating that dismissal based solely on e-filing confusion disregards merits. This ruling emphasizes the importance of considering substantive issues despite procedural challenges.
The Kerala High Court ruled that banks cannot freeze accounts based on an expired prohibitory order under the Income Tax Act, advising Kotak Mahindra to allow account operations.
The Kerala High Court ruled that alternative remedies under the Income Tax Act do not preclude writ jurisdiction in challenges based on the nullity of an assessment order. This ruling invites deeper scrutiny of assessment processes in specific cases.
The CBDT has launched Form ITR-BN for taxpayers involved in income tax searches post-April 2026. This form specifically caters to block assessment cases, indicating a focused approach to handling such investigations.
Effective October 1, 2025, SEBI will require intermediaries to use validated '@valid' UPI IDs to enhance payment security and reduce instances of fraud. This measure aims to bolster investor protections in financial transactions.
The RBI has introduced new directions on concurrent audits for commercial banks effective from July 31, 2026, emphasizing the importance of governance and accountability in audit practices.
RBI issues directions for banks regarding the detection, reporting, and monitoring of fake Indian currency notes (FICNs). These directions aim to enhance the banking sector's response to counterfeit note issues.
The Reserve Bank of India has issued consolidated supervisory directions aimed at streamlining regulatory compliance for financial institutions. This move aims at minimizing compliance costs through periodic evaluation.
The Reserve Bank of India has published sectoral deployment data on bank credit for June 2026, indicating significant year-on-year growth.