Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Madras High Court ruled that a one-year practice is required for registration as an Income Tax Practitioner. This decision clarifies the regulatory framework governing the eligibility of representatives in tax matters.
The Chhattisgarh High Court dismissed the Revenue's appeal, upholding the ITAT's finding on limitation. The ruling emphasizes the importance of adhering to statutory deadlines in income tax reassessment.
The RBI has implemented third amendment directions for responsible business conduct across various banking institutions, focusing on limiting liability in unauthorized electronic banking transactions to protect consumers.
The Reserve Bank of India has issued new directions for credit derivatives markets as part of its regulatory framework. This directive establishes guidelines for the utilization of derivatives on credit indices and total return swaps, facilitating better management of credit risk.
The Reserve Bank of India has imposed a ₹3 lakh penalty on Nabapalli Cooperative Bank for violating KYC guidelines, reinforcing the importance of compliance in the banking sector.
To enhance transparency, the Reserve Bank of India has introduced a Benchmark Issuance Strategy for market borrowings by state governments and Union Territories for the upcoming quarter.
The IBC is challenged by foreign sanctions as Indian insolvency tribunals navigate complex global issues. This situation raises questions about the interplay between insolvency law and international regulatory restrictions.
The Reserve Bank of India has introduced a quarterly calendar for state government borrowings, promoting transparency and market efficiency. This initiative involves nine states for better structured funding.
The collaboration between India's CSIR and Brazil's INPI on the Traditional Knowledge Digital Library marks a significant step in global biodiversity governance.
The Delhi High Court upheld the temporary blocking of Telegram, citing architectural liability and its implications for public law. The court's decision signals a potential shift in how digital platforms may be regulated under existing laws.
Analyzing the implications of the Income Tax Act, 2025, which reinstates capital gains taxation on share buybacks.
The Calcutta High Court ruled that Section 107 of the BNSS Act does not provide adequate safeguards for third parties, applying a stringent 'reason to believe' test to quash a property attachment order. This highlights the need for more comprehensive legal frameworks.