AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has updated its directives pertaining to responsible business conduct for all-India financial institutions, focusing on compliance with newer regulatory expectations.
The RBI has implemented crucial amendments to its directions concerning credit risk management for all-India financial institutions, enhancing guidelines for the resolution of stressed assets.
The Reserve Bank of India has promulgated directions on the disbursement of government pensions through Agency Banks, setting standards for implementation. These guidelines are crucial for ensuring timely and accurate pension payments.
The Reserve Bank of India has released new directions regarding the conduct of government business by Agency Banks, focusing on commission payments and oversight. These directions establish clear guidelines to enhance transparency and accountability in agency banking.
The RBI has proposed amendments to the Investment Fluctuation Reserve norms, seeking feedback from stakeholders. Significant changes include the potential elimination of IFR for specific bank categories.
Zee Entertainment files a lawsuit against Nykaa, claiming INR 2 crores for unauthorized use of copyrighted music in Instagram reels.
Concessional import duty on gold, silver, and platinum has been increased from 4.35% to 10% under recent customs notifications.
CESTAT Mumbai ruled that a customs demand lacks legal standing without a mandatory show cause notice as prescribed by the Customs Act.
The Tripura High Court granted leave to appeal a trial court decision that ordered the release of seized gold, contradicting confirmed confiscation by appellate authorities.
The CESTAT Bangalore classified an automatic soap dispenser under CTI 8424 89 90, rejecting its categorization as a toiletry spray per HSN notes.
The Bombay High Court declared GST proceedings against a non-existent company due to amalgamation as null and void, quashing the demand order. This decision affirms the need for compliance with corporate law in tax matters.
The Bombay High Court ruled that rejecting a manual GST appeal due to an unavailability of DRC-07 on the portal is unsustainable. The court remanded the matter for reconsideration under Rule 108 of the CGST Rules.
The ITAT Raipur invalidated reassessment proceedings due to the non-disclosure of documents to the assessee. This ruling emphasizes the necessity of fair procedure in tax reassessment.