Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI has issued the Third Amendment Directions for Local Area Banks, updating requirements for financial statements and disclosures to enhance transparency.
The Reserve Bank has communicated the implementation of Section 51A of the UAPA, updating the UNSC’s sanctions list, impacting a range of financial institutions.
The RBI published the latest data on international trade in services for March 2026, indicating trends in exports and imports that are crucial for economic analysis.
The RBI has reported on lending and deposit rates of scheduled commercial banks for April 2026, noting a slight decline in average rates. This trend provides insights for financial institutions and their clients.
The Government's fee waiver on sports-related IP raises questions about ownership and exclusivity. This article examines the implications for sports culture and access.
The Bhojpur District Consumer Disputes Redressal Commission ordered the Railways to compensate passengers ₹20,000 for being denied seats despite holding confirmed tickets.
The Karnataka High Court has granted protection from arrest to officials of LegalPay Technology in a cyber fraud case involving a fake marriage invitation. The court ordered the state not to arrest the individuals associated with the company.
The ITAT ruled that Section 2(22)(e) of the Income Tax Act cannot apply where cash shortages pertain to proprietary concerns rather than corporate entities.
The ITAT mandated the application of the LIBOR rate for associated enterprises’ loans in USD, moving away from the State Bank of India’s PLR.
The ITAT enforces the principle that income cannot be taxed without actual accrual, thus removing unjustified notional interest additions on advances.
The ITAT has directed the adoption of the LIBOR rate for loans reducible in USD and deleted notional interest adjustments on business advances.
The ITAT restored cases to the Assessing Officer, directing a fresh consideration of all evidence due to the lack of verification for e-filing submissions.