AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT partly allowed an appeal, determining that the Assessing Officer had made summary additions related to liabilities, undisclosed business receipts, and opening capital without appropriate examination of evidence.
The Income Tax Appellate Tribunal ruled that Section 2(22)(e) does not apply when the cash shortage is related to a proprietary concern rather than a company. This decision clarifies the scope of deemed dividend provisions under the Income Tax Act.
The Reserve Bank of India has issued amendment directions refining the investment portfolio operation guidelines for local area banks.
The Reserve Bank of India has issued amendment directions to enhance regulatory frameworks for urban co-operative banks concerning the operation of investment portfolios.
The Reserve Bank of India has released new amendment directions relating to the classification, valuation, and operation of investment portfolios for rural co-operative banks.
The RBI has issued amendment directions on the classification, valuation, and operation of investment portfolios for regional rural banks, enhancing regulatory compliance frameworks.
The Reserve Bank of India has introduced the Sixth Amendment Directions regarding prudential norms on capital adequacy for commercial banks to align with updated regulatory requirements.
The Reserve Bank of India has published the Sixth Amendment Directions focused on financial statement presentation for commercial banks, ensuring compliance with updated standards.
The Reserve Bank of India has issued the Third Amendment Directions regarding the presentation of financial statements for local area banks, enhancing disclosures and models.
March 2026 shows significant trends in India's international trade in services, with insights on export and import values.
The RBI has published its 46th Half-Yearly Report detailing the management of India's foreign exchange reserves for October 2025 - March 2026.
The latest bulletin from the RBI discusses liabilities and assets as of April 2026, providing crucial insights into the financial state of scheduled commercial banks.
RBI has established a uniform 90-day NPA classification rule across all NBFC categories, effective March 31, 2026. Detailed provisioning requirements are also introduced for better asset classification.