AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
This article examines whether a tax audit is mandatory under Section 58(3) of the Income-tax Act when profits fall below 6%, emphasizing the need for legislative clarification.
The Calcutta High Court ordered the Detective Department to hasten the investigation into a ₹13 crore duping case, emphasizing the need for timely justice in such serious matters.
The ITAT has ruled that a Chartered Accountant (CA) acting as a conduit for client tax payments cannot be taxed on funds deposited through their bank account as unexplained income.
The Income Tax Appellate Tribunal (ITAT) has ruled that a return filed in response to a Section 148 notice still necessitates a subsequent notice under Section 143(2) before reassessment can occur.
The Calcutta High Court differentiates between tax evasion and extortion claims while granting anticipatory bail to a former MLA. The court evaluated the gravity of the accusations against the accused’s personal circumstances.
The RBI has issued third amendment directions for commercial banks regarding customer liability in unauthorized banking transactions, enhancing responsible business practices.
The RBI has issued third amendment directions focusing on customer liability in unauthorized electronic transactions for small finance banks, reinforcing responsible business conduct.
The RBI has issued second amendment directions regarding responsible business conduct for payments banks, focusing on limiting liability in unauthorized electronic transactions.
The RBI has consolidated directives aimed at local area banks, emphasizing customer protection in electronic transactions to minimize liability in unauthorized cases. This enhances responsible banking conduct.
The RBI has issued directives aimed at enhancing customer protection for regional rural banks with respect to unauthorized electronic transactions. This is part of the drive towards responsible banking practices.
The RBI has published third amendment directions for urban co-operative banks focusing on limiting customer liability in unauthorized electronic transactions. These measures enhance banking security.
The RBI has issued amendments on responsible business conduct for rural co-operative banks, covering customer liability in unauthorized electronic transactions. These directions seek to enhance customer protection.
The RBI has modified reporting requirements under FEMA in a directive aimed at enhancing clarity. These modifications are directed at all authorised persons in the foreign exchange domain.