AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi High Court has clarified that the ₹75,000 late fee for delayed tax audits will not apply for the assessment year 2026-27, as existing penalties under Section 271B will continue. This maintains the status quo for tax practitioners this year.
The NCLT has rejected Ernst & Young's plea for a 1% success fee related to GST demand reduction, ordering the ICAI to investigate the matter further.
The RBI has introduced the Fourth Amendment Directions regarding the Cash Reserve Ratio and Statutory Liquidity Ratio for rural co-operative banks, aiming to facilitate compliance and effective capital management.
The RBI has released Third Amendment Directions regarding interest rates on deposits for commercial banks. This regulatory update aims to improve the framework for deposit management.
The RBI has issued Third Amendment Directions concerning the interest rates on deposits for small finance banks. This amendment aims to enhance the regulatory framework for such banks.
The RBI has released Third Amendment Directions regarding interest rates on deposits for local area banks, aimed at updating regulations to reflect current financial conditions.
The RBI has announced the Third Amendment Directions regarding the interest rates on deposits for regional rural banks, reflecting ongoing regulatory adjustments aimed at supporting the banking sector.
The Reserve Bank of India has issued the Third Amendment Directions concerning interest rates on deposits for urban co-operative banks. This change is aimed at enhancing the regulatory framework around deposit management.
The Reserve Bank of India has released the Second Amendment Directions regarding interest rates on deposits for rural co-operative banks. This adjustment reflects ongoing efforts to provide banks with flexibility amid changing economic conditions.
The RBI has mandated a half-yearly return for all scheduled commercial banks for reporting relief measures associated with areas affected by natural calamities through the Centralised Information Management System (CIMS) portal. This is aimed at enhancing accountability and transparency in disaster management efforts.
The Gujarat High Court has upheld the admissibility of a single complaint for dishonour of four cheques issued in connection with a single transaction, clarifying legal standards for cheque dishonour actions under the NI Act.
The Delhi High Court has upheld the maintainability of a single complaint for more than three dishonoured cheques linked to one demand notice, clarifying procedural requirements for complaints under the Negotiable Instruments Act.
The Calcutta High Court has accepted the unconditional apology of an Enforcement Directorate (ED) officer for violating a stay order, leading to the closure of contempt proceedings. This decision reflects the court's willingness to resolve issues around procedural compliance without further action.