AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
Madras High Court remands GST ITC denial on construction meant for leasing, directing re-adjudication in light of Safari Retreats’ precedent on commercial use.
The Gujarat High Court quashed a GST refund rejection where the show cause notice (SCN) cited only 'other' or 'error in adjusted total turnover' without specific grounds, holding such vague reasoning invalid.
Delhi High Court rules banks cannot unilaterally reduce interest on fixed deposits maintained under court orders without just cause, in NatWest vs Hero Exports.
RBI issues amendment directions for Commercial Banks' shareholding, enhancing regulatory oversight on acquisitions and voting rights.
RBI amends shareholding rules for Local Area Banks, aligning them with updated regulatory norms for ownership transparency and regulatory approval thresholds.
The Reserve Bank removes value thresholds for electronic remittances requiring prior Form A2 submission, streamlining compliance for authorised dealers and customers.
The RBI has transitioned reporting of the Non-Resident Deposits Comprehensive Single Return (NRD-CSR) from XBRL to the CIMS Sankalan portal, streamlining data submission for authorised dealers.
The RBI extended regulatory restrictions under Section 35A of the Banking Regulation Act, 1949 for five co-operative banks until October 2026, citing public interest and ongoing monitoring.
Calcutta and Delhi High Courts differ on whether Section 47 cancellation triggers Section 124 stay. Courts remain split on whether non-use proceedings constitute 'rectification'.
The Delhi High Court ruled that a formal declaration under Rule 124 is not mandatory to invoke Section 11(2) of the Trade Marks Act, 1999. Courts may independently determine well-known status based on evidence.
The Delhi High Court dismissed petitions seeking action against politicians for hate speeches linked to the 2020 Delhi riots and an SIT probe into police conduct at Jamia Millia Islamia during 2019 CAA protests. The Court held existing probes sufficient.
The Punjab and Haryana High Court reprimanded the Punjab government for publicly misrepresenting the status of its appeal in the Dearness Allowance case through social media. The Court affirmed its August 3 order directing payment of pending DA/DR to state employees and pensioners.
NFRA released guidance on auditors’ evaluation of going concern under SA 570, covering reporting, CARO 2020, and 35 audit committee questions.