AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI has officialized the final redemption price for the Sovereign Gold Bond (SGB) 2018-19 Series-I, due on May 4, 2026, based on recent gold prices.
The ITAT Patna ruled that purchases cannot be wholly disallowed if they correlate directly with verified sales, emphasizing the importance of stock and sales documentation in tax assessments.
The ITAT ruled that there was insufficient evidence to classify a cash shortage as a deemed dividend since it was linked to a proprietary concern. This highlights the necessity for clear financial documentation.
The Calcutta High Court dismissed the Income Tax Department’s appeal due to compliance with the low tax effect threshold, reinforcing the requirement for exceptional circumstances to justify such appeals.
SEBI has proposed reforms to the pre-open call auction mechanism, aiming to prevent the artificial suppression of prices in IPOs and re-listed stocks. This includes revised base price rules and stricter conditions.
SEBI has proposed a framework aimed at managing strike prices of options contracts to mitigate market volatility. This initiative seeks to ensure continuous availability of options contracts close to the prevailing market prices.
The Institute of Chartered Accountants of India (ICAI) is set to launch a Forensic Audit Lab in Hyderabad. This initiative aims to support small Chartered Accountant firms by providing access to forensic audit resources.
CMS INDUSLAW has successfully advised Scapia Technology Private Limited in a $63 million Series C funding round led by General Catalyst. This marks a significant milestone for the tech startup.
The Supreme Court's judgment on stray dogs has sparked confusion regarding the management of stray populations. Key clarifications reveal that authorities cannot indiscriminately remove or harm these animals.
The Delhi High Court has refused to review its previous ruling that music composer Ilaiyaraaja does not hold copyright over the song 'En Iniya Pon Nilave'. The court found no errors in its earlier order, upholding the decision against Ilaiyaraaja.
The ITAT upheld an addition of ₹2.78 Crores for undisclosed aluminium stock, finding the taxpayer's claims of storing 28,000 kgs in a small premises implausible.
The ITAT has remanded the transfer pricing adjustment under Section 92CA, citing errors in the earlier calculations and directing fresh adjudication by the Assessing Officer and TPO.
The ITAT ruled against the addition of ₹50 lakh under Section 68, overruling the Assessing Officer's doubts concerning the investor's financial capacity as unfounded.