Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Reserve Bank of India has issued Second Amendment Directions focused on income recognition and asset classification for Small Finance Banks. This amendment seeks to improve regulatory compliance.
The Reserve Bank of India has issued Third Amendment Directions pertaining to income recognition and asset classification for Non-Banking Financial Companies. This aims to enhance resolvability of stressed assets.
The Reserve Bank of India has released Second Amendment Directions concerning income recognition and asset classification for All India Financial Institutions. This amendment is crucial for improving financial governance in the sector.
The Reserve Bank of India has issued Second Amendment Directions related to income recognition and asset classification for Urban Cooperative Banks. This aims to address financial stability and regulatory compliance.
The Reserve Bank of India has implemented Third Amendment Directions focused on income recognition, asset classification, and provisioning for Rural Co-operative Banks. This is part of the ongoing reforms to address asset management and financial health.
The Reserve Bank of India has released Second Amendment Directions for income recognition, asset classification, and provisioning across various banking sectors. These directives impact the regulatory compliance and operational guidelines for banks.
The Government of India will conduct a re-issue auction of Government Security worth ₹34,000 crore on July 31, 2026. The auction will adhere to the underwriting scheme established in 2007, with specific commitments set for Primary Dealers.
The Kerala High Court ruled to grant relief to GST taxpayers, disposing of petitions based on earlier judgments citing issues with Input Tax Credit during the initial GST rollout.
The Madras High Court ruled that extra duty deposit collected without legal sanction must be refunded with interest under the Customs Act.
The Karnataka High Court has set aside a Single Judge's order quashing common GST show-cause notices for multiple tax periods. The Bench noted that the Single Judge erred by applying principles from a 2026 judgment.
The Karnataka High Court has quashed income tax reassessment proceedings initiated after April 1, 2021, citing the Revenue's concession made before the Supreme Court. The court noted that the notice under Section 148 was issued on July 28, 2022, exceeding the permissible timeline.
The Karnataka High Court ruled it lacked jurisdiction under Section 260A of the Income Tax Act to entertain the Revenue's appeal. This decision clarifies that jurisdiction is determined by the location of the assessment order.