Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Delhi High Court permitted the withdrawal of a sugar supply recovery suit, stating that the settlement through an NCLT-approved IBC plan warranted a full refund of court fees.
The Calcutta High Court upheld its previous ruling on the diesel escalation clause, stating that it correctly applied legal principles regarding contractual obligations. The court ruled that it cannot rewrite contracts between parties.
The NCLT has approved a ₹17.25 crore resolution plan, stating that statutory obligations cannot be waived due to COVID-19-related disturbances. This ruling addresses the challenges during CIRP amid financial uncertainties.
The Madras High Court has ruled that unregistered property transfers cannot substantiate depreciation claims under the Income Tax Act.
The ITAT ruled that income tax assessments based solely on suspicion regarding transactions lack validity unless legal proof of wrongdoing is presented.
The ITAT has held that unpaid GST cannot be disallowed under Section 43B if the liability is not claimed as an expenditure in the profit and loss account.
The ITAT has ruled that payments made under Corporate Social Responsibility (CSR) fulfill the criteria for deductions under Section 80G of the Income Tax Act, provided all conditions are met.
A Superintendent of the Income Tax Office in Bhadrak, Odisha, has been apprehended by the CBI for allegedly demanding ₹4,000 as a bribe. The case highlights ongoing corruption issues within public offices.
The RBI has issued directions pertaining to the disbursement of government pensions by Agency Banks, setting guidelines for the implementation processes involved.
The RBI will execute a Variable Rate Repo (VRR) auction on June 08, 2026, aimed at managing liquidity conditions in the market. The notified amount for the auction is set at ₹75,000 crore.
The Rajasthan High Court has quashed a penalty against an Assessing Officer, ruling that an error of judgment does not constitute misconduct. The decision underscores the standards required for disciplinary actions against officers.
The ITAT has ruled that cess payments alone cannot serve as evidence of unaccounted turnover, emphasizing the need for clear taxation criteria for commission agents. The ruling reiterates that tax should be based on commission income rather than consignors’ turnover.