AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI has announced an auction of Government of India Treasury Bills, with significant amounts expected across different maturities starting July 1, 2026.
The RBI has issued new directions regarding credit derivatives to expand the market for total return swaps on corporate bonds as part of the FY 2026-27 budget.
The RBI has introduced a Benchmark Issuance Strategy for State Governments to enhance market transparency for Quarter July - September 2026.
On June 11, 2026, Phonographic Performance Limited was officially registered as a copyright society for sound recordings under the Copyright Act, 1957. This advancement signifies a crucial step in the management of copyright in the music industry.
The Bombay High Court confirmed CESTAT’s verdict, ruling no evidence found of customs law violations by the broker, allowing retention of the customs broker licence.
The CESTAT ruled that Customs must pay interest on delayed refunds of Extra Duty Deposit, emphasizing that delays attract statutory interest regardless of litigation.
The CBIC has designated a common adjudicating authority for multiple customs show cause notices, aimed at enhancing the consistency of adjudication processes under the Customs Act.
The CESTAT determined penalties on an importer were inappropriate because all relevant documents were submitted, including a certificate from an authorized agency. The Tribunal attributed any assessment failures to customs authorities.
The Enforcement Directorate conducted searches at nine locations in Bengaluru and Mumbai related to contraventions of the Foreign Exchange Management Act. Various incriminating documents were seized during these operations.
The Calcutta High Court has directed the Detective Department to expedite its inquiry into a ₹13 crore duping fraud case and submit a report to the jurisdictional Magistrate. This decision emphasizes the importance of prompt action in financial fraud investigations.
The article provides guidelines for Chartered Accountants (CAs) on essential GST compliance checks necessary before signing audit reports to ensure accurate financial disclosures and mitigate risks.
The Income Tax Appellate Tribunal has ruled that a co-operative society cannot have its deduction under Section 80P(2)(a)(i) denied due to clerical mistakes on tax returns. It emphasizes proper evaluation over minor errors.
The Karnataka High Court has clarified that the use of the word 'may' in the GST amnesty notification creates a directory timeline for filing declarations rather than imposing a mandatory obligation. The court directed authorities to reconsider taxpayers' requests pending resolution.