AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Supreme Court dismissed a property title appeal, affirming that the plaintiff did not provide adequate evidence to prove ownership and the identity of the land in question. This ruling reinforces the evidentiary standards required in property disputes.
The RBI has released the results of the recent Treasury Bills auction, with a notified amount of ₹9,000 crore, ₹8,000 crore, and ₹7,000 crore for 91-day, 182-day, and 364-day securities respectively. Cut-off yields were reported for each tenor.
The RBI announced the results of the Overnight Variable Rate Reverse Repo (VRRR) auction held on August 19, 2026, with ₹1,50,000 crore notified amount and a cutoff rate of 5.24%. The total accepted amount was ₹1,25,825 crore.
In response to liquidity conditions, the RBI will hold a Second Overnight Variable Rate Reverse Repo (VRRR) auction totaling ₹50,000 crore on August 20, 2026. The auction aims to absorb excess liquidity in the banking system.
The Reserve Bank of India will conduct an underwriting auction for the sale of government securities amounting to ₹28,000 crore on August 21, 2026. This move aims to bolster the government's borrowing program and manage liquidity in the market.
The Orissa HC has condoned an 18-day delay in filing Form 10B necessary for claiming exemptions under Section 12A of the Income Tax Act, acknowledging genuine hardship faced by the petitioner. This ruling is significant for non-profit organizations and trusts.
The DGFT has updated the import policy for clear float glass, setting a Minimum Import Price (MIP), allowing free imports at CIF values of INR 34,000 or more per MT for one year. This policy aims to regulate the glass import market.
The Calcutta High Court ruled that writ petitions concerning DVO references are premature if they have not culminated in a final assessment order under the Income Tax Act.
The Income Tax Department has initiated a nationwide verification process targeting suspicious foreign remittances, scrutinizing 394 entities and 36 professionals to address discrepancies between reported turnover and remittances.
The ITAT ruled that cash deposited by a husband from his disclosed income cannot be added to the taxable income of his wife under Section 69A, finding that sufficient evidence existed regarding the source of the funds.
Senior Advocate Pradeep Rai has been elected as the new president of the Supreme Court Bar Association, signifying a notable transition in legal leadership.
The IBBI has clarified that its CPIO is not required to create information or compile voluminous data for exploratory RTI queries. This ruling delineates the limits of RTI obligations for public authorities.
The Calcutta High Court ruled that a writ petition challenging a DVO reference is premature unless it culminates in a final assessment order. This decision emphasizes the procedural requirements necessary for challenging income tax determinations.