Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Customs Authority for Advance Rulings (CAAR) has determined that laser-marked diamonds are classified as semi-processed, thus ineligible for the customs duty exemption under Sr. 345.
CAAR has clarified that the Customs exemption under Notification 45/2025 is strictly applicable to research activities only, disallowing benefits for Exhibit Batch imports due to breaches of notification conditions.
The CESTAT ruled that astronomy coaching is a science-based activity, not eligible for service tax exemption intended for recreational arts or culture. This determination delineates the scope of the exemption in service tax law.
The Chhattisgarh High Court granted regular bail in a ₹7.59 crore fake Input Tax Credit case, determining further custodial interrogation was unnecessary.
The ITAT ruled that the Principal Commissioner of Income Tax (PCIT) cannot revise an assessment based on a deduction that the taxpayer never claimed. This decision clarifies the limitations of PCIT's powers in assessment revisions.
The RBI Governor met with representatives from export organizations to discuss strategies for enhancing exports and strengthening industry relationships.
The RBI has released a calendar for Treasury Bills issuance covering the next quarter, providing key dates for investors to strategically plan their investments.
The RBI has announced the auction of Treasury Bills, including various tenors, which highlights ongoing financial strategies by the government to optimize funding avenues.
The Pune ITAT declined to condone a significant delay in appealing a Section 12AB rejection citing insufficient justification.
This ruling affirms that minor typographical errors in tax audit reports cannot invalidate PF deductions.
The ITAT found that mortgages do not automatically invoke taxation under Section 56(2)(x) if solely for registration purposes.
The ITAT ruled that an old Section 12A certificate loss does not justify denial of Section 12AB registration.