AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has released the draft Foreign Investment Rules, 2026, inviting public comments until August 31, 2026. This new framework seeks to simplify and enhance the principles governing foreign investments in India.
The Gauhati High Court ruled that objections related to the non-issuance of Form GST ASMT-10 and audit material can be raised before the statutory appellate authority. This decision clarifies the procedural rights of taxpayers under GST.
The ITAT has upheld that 'interest on interest' is not applicable in the context of partial refund adjustments as per Section 244A of the Income Tax Act.
The government has granted income tax exemption to the Delhi Pollution Control Committee, applicable to non-commercial activities, ensuring continuity across taxing regimes.
The ITAT has ruled that a Chartered Accountant can claim presumptive taxation under Section 44ADA for remuneration received from a partnership in a professional firm.
In a recent decision, the ITAT ruled that interest and dividend income earned from cooperative banks qualifies for tax deduction under Section 80P(2)(d) of the Income Tax Act.
The ITAT has ruled that cash deposits made during demonetisation can be explained through agricultural income and regular business turnover, thus deleting the additional tax assessment.
The Reserve Bank of India has released the Second Amendment Directions for Local Area Banks aimed at resolving stressed assets efficiently.
The Reserve Bank of India publishes the Second Amendment Directions for Commercial Banks focusing on income recognition and asset classification.
The Reserve Bank of India has announced new directives for Small Finance Banks regarding income recognition and asset classification.
The Reserve Bank of India announces the Third Amendment Directions for Non-Banking Financial Companies focused on enhancing income recognition and asset classification.
The Reserve Bank of India introduces the Second Amendment Directions for All India Financial Institutions, enhancing standards for income recognition and asset classification.
The Reserve Bank of India announces the Second Amendment Directions for Urban Cooperative Banks focused on income recognition and asset provisioning standards.