AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
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.
The Calcutta Stock Exchange's exit application remains under SEBI's review with no formal decision yet. Compliance requirements must be met for potential revival.
SEBI has amended the OBPP framework to include IFSCA products and 54EC bonds, introducing new disclosure requirements and compliance stipulations. This change aims for improved regulatory clarity and investor protection.
The auction of State Government Securities held on August 18, 2026, successfully accepted various securities across multiple states, reflecting strong investor demand.
The RBI has scheduled an Overnight Variable Rate Reverse Repo auction for August 19, 2026, as part of its liquidity management strategy, with a target amount of ₹1,50,000 crore.
The RBI released details on recent money market operations, including the performance and acceptance of government securities. These insights are pertinent for managing cash flows in financial institutions.
The RBI conducted an Overnight Variable Rate Reverse Repo auction, accepting ₹1,25,825 crore at a cut-off rate of 5.24%. This auction indicates the prevailing liquidity conditions in the financial market.
The latest SpicyIP weekly review captures important rulings from the Delhi and Madras High Courts, impacting copyright and patent law. Key cases include HBO v. Streamzy and developments in Novartis v. Venkata Narayana.
In a co-authored piece, the implications of Section 3(m) of the Patents Act are scrutinized, arguing against its simplistic comparison with European Patent Law. This commentary enriches the discourse on emerging patent litigations in India.