AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT Delhi has ruled that the recent amendment to Section 32(1)(ii) of the Income Tax Act regarding goodwill will apply prospectively. This decision guarantees tax depreciation on goodwill acquired prior to the amendment.
The RBI has sanctioned the voluntary amalgamation of The Bhavani Sahakari Bank Ltd., Mumbai, with TJSB Sahakari Bank Ltd., effective May 4, 2026.
The Delhi High Court's recent pro-tem order in the Malikie v. Xiaomi case signifies ongoing challenges in determining fair, reasonable, and non-discriminatory (FRAND) terms for standard essential patents (SEPs).
The Calcutta High Court has upheld the economic rights of authors over their works in a recent ruling, emphasizing the intent behind the copyright amendments of 2012.
The Delhi High Court addressed the complexities surrounding Section 3(k) of the Indian Patents Act in the case Blackberry v. Controller. Despite previous guidelines, the interpretation of patentability remains unclear.
SEBI has provided important clarifications regarding the status of Special Purpose Vehicles (SPVs) under InvITs, allowing them to retain SPV status even post-concessiontermination, along with prescribing timelines for project exit or restructuring.
SEBI has issued clarifications regarding PAN rules for Foreign Portfolio Investors (FPIs) following compliance challenges posed by new Income-tax application forms. The relaxations are designed to simplify documentation and facilitate the onboarding process for FPIs.
Robert Vadra has been granted bail by the Delhi Rouse Avenue district court in a money laundering case concerning the Shikohpur land deal. The bail was granted upon a surety of ₹50,000 after the ED filed a charge sheet without arresting Vadra.
The Patna High Court has mandated that the government must resolve contractor claims related to a stalled road project within six weeks, highlighting the importance of timely resolution in infrastructure projects.
The Insolvency and Bankruptcy Board of India (IBBI) introduced new governance norms for insolvency professional agencies, mandating that managing directors receive prior approval from the IBBI. The reforms also tighten eligibility criteria for directors.
The ITAT clarified that occupancy certificates and Joint Development Agreements disclosed to the Income Tax Department before a search cannot be deemed as incriminating material for the purpose of invoking Section 153A.
The ITAT Bangalore ruled that Section 45(5A) of the Income Tax Act does not apply retrospectively to Joint Development Agreements executed before April 1, 2018. Consequently, capital gains from these agreements cannot be taxed upon receipt of the occupancy certificate.
The RBI has imposed a ₹3.10 lakh penalty on IIFL Finance Limited due to non-compliance with regulatory directives under NBFC regulations.