Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT deemed State Bank of India liable for not deducting tax on LFC payments related to foreign travel and distinguished a past High Court order based on the absence of specific interim relief.
The RBI has released new directions addressing the disbursement of government pensions through Agency Banks. The directive emphasizes accountability and clear definitions to ensure the smooth execution of pension distribution.
The RBI has begun the withdrawal of ₹2000 denomination banknotes from circulation, with periodic updates on this status. Deposits and exchanges at bank branches were available until October 7, 2023.
The ITAT Delhi found that notional interest on advances cannot be taxed unless there is actual income accrual, ensuring fair tax treatment for business transactions.
SEBI has revised the Monthly Cumulative Report format for mutual funds, effective June 2026, to reflect new scheme categories. This change aims to improve reporting standards in the industry.
SEBI clarified that clients under Non-Discretionary PMS can pledge their shares for personal borrowing. This decision safeguards clients' rights without classifying it as borrowing by portfolio managers.
SEBI clarified that renewable energy projects awarded through competitive bidding qualify as PPP projects under InvIT regulations. This ruling emphasizes the risk allocation between public authorities and private SPVs.
Starting June 1, the new E-Way Bill threshold in West Bengal will be ₹50,000, down from ₹1 lakh. This change impacts small and medium enterprises, necessitating updates to invoicing and transport documentation.
The ITAT upheld the genuineness of software development charges, countering the Department's objections regarding the movement of trust funds out of India based on a digital forensic report.
This week’s roundup from the ITAT covers significant cases, including rulings on software development charges validity and share application additions. It highlights critical legal principles relevant for tax practitioners.
The RBI announces an auction for 91-Day, 182-Day, and 364-Day Treasury Bills to enhance liquidity management.
The RBI reports on lending and deposit rates from commercial banks for April 2026, showing slight fluctuations.