Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The article discusses judicial perspectives that denying ITC based solely on upstream NGTP allegations imposes an unfair burden on genuine buyers. The legality of such practices is contested in courts.
The ITAT Mumbai ruled that stamp duty valuation must be considered on the date of allotment in property transactions, clarifying the application of Section 56(2)(x). This decision aims to fortify transaction transparency.
The Institute of Chartered Accountants of India (ICAI) has added a mandatory checklist for Section 44AB(e) during the Unique Document Identification Number (UDIN) generation process to prevent misuse of tax audit limits.
India’s affluent individuals employ strategic tax management under the Income Tax Act, 1961, to minimize their tax liabilities. This approach reflects a growing trend among high-net-worth households to report lesser income relative to their wealth.
A summary of key cases reported in the Supreme Court and High Courts from May 09, 2026, to May 15, 2026.
The Calcutta High Court ruled that a motor vehicle tax demand is void unless the inter-state permit secured a valid counter-signature, reinforcing tax obligations tied to proper permitting.
The Gauhati High Court has permitted the impleadment of the CBIC Chairman and Customs Commissioners as necessary parties in a writ petition, emphasizing their essential role in the proceedings.
The RBI is set to conduct an auction of Treasury Bills amounting to ₹18,000 crore on May 20, 2026. This auction includes 91-day, 182-day, and 364-day bills, marking an important liquidity management tool for the government.
The Government of India has notified the redemption price for premature redemption of the 2020-21 Series-VIII Sovereign Gold Bond, applicable on May 18, 2026. This applies to bonds redeemed five years post-issue.
On May 18, 2026, the RBI conducted a successful 7-day Variable Rate Repo (VRR) auction, allotting ₹16,005 crore at a cut-off rate of 5.26%. Total bids received were ₹16,005 crore, indicating full participation at the set cut-off rate.
This weekly round-up provides an analytical summary of significant cases reported from the Supreme Court and High Courts in India, covering various legal issues.
The Calcutta High Court dismissed an eviction appeal, ruling that khajna receipts and municipal tax records are sufficient to establish better title to land. This decision emphasizes the reliance on such records in property disputes.