AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT ruled that a delayed filing of Form 67 does not extinguish an assessee's right to claim Foreign Tax Credit (FTC). This decision emphasizes the principle of substance over form in tax matters.
The NCLT Mumbai has rejected claims from Jet Lite employees seeking treatment as Jet Airways workmen during liquidation. The Tribunal held that no employer-employee relationship was established.
The NCLT Kochi has ruled that proposed amendments to a company petition introduce new causes of action, which are impermissible under Rule 155 of the NCLT Rules. This decision underscores the importance of adhering to procedural rules in NCLT proceedings.
The Bar Council of India has mandated law students to submit an undertaking ensuring compliance with social media ethics before admission and internships. This reflects evolving standards in legal education.
Sunsure Energy has obtained ₹262 crore project financing from FMO and Axis Bank, advised by DSK Legal. Legal support included negotiating transaction documents and compliance matters.
The RBI has announced the upcoming auction for government treasury bills, aiming to manage short-term liquidity needs and promote efficient government financing.
The RBI has set the redemption price for premature redemption of Sovereign Gold Bonds 2020-21 and 2021-22 series, allowing bondholders an option to redeem their investments before the maturity period.
Several State Governments are set to auction an aggregate of ₹21,700 crore in securities, with individual states offering various amounts and tenors. This auction helps states raise funds for various developmental projects.
The Madras High Court has dismissed writ petitions challenging GST Section 74 show cause notices, allowing for replies and adjudication on merits.
The ITAT ruled that a low-income individual labeled as a name-lender for a co-operative society is not liable for commission income additions due to lack of evidence.
The government has issued an income tax exemption for BBNDA, applicable between FY 2018-19 and 2022-23, contingent on compliance with non-commercial activities.
SEBI has issued a warning to regulated entities and listed companies regarding impersonation scams involving CEOs and MDs, advising them on verification practices and cyber security measures.
The Calcutta High Court has directed the transfer of ₹1.38 crore, along with accrued interest, to the One Man Committee, dismissing a related writ petition as withdrawn.