AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Karnataka High Court ruled that there is no KVAT penalty for the temporary unloading of goods during interstate transit if the movement is adequately explained. This decision provides clarity on the handling of tax liabilities during transportation.
In a dispute over steel supply, the NCLT has admitted a claim for Corporate Insolvency Resolution Process amounting to ₹2.35 crore based on established operational debt.
The RBI has introduced half-yearly reporting through the Centralised Information Management System (CIMS) for relief measures related to natural calamities. All scheduled commercial banks are required to adhere to this new reporting structure.
On September 08, 2026, the RBI conducted an Overnight Variable Rate Reverse Repo auction accepting offers worth ₹4,17,609 crore at a cut-off rate of 5.24%. The total notified amount was set at ₹5,00,000 crore, indicating steady liquidity management amidst market conditions.
The dispute in IPRS v. Hotel Appolo addresses critical issues regarding copyright licensing in the context of hotel services. Legal experts analyze the implications of the case for hotel operators and copyright societies.
The recent Jan Vishwas Amendment modifies penalty provisions under the Delivery of Books Act, 1956, aiming to modernize legal deposit practices. Co-authored by law students, this analysis critiques the amendments' effectiveness in achieving substantive reform.
Following the rollout of the Closing Auction Session (CAS), SEBI proposes a review of the settlement price methodology for derivative contracts to enhance market integrity.
SEBI has amended its FPI Master Circular by removing the necessity for foreign portfolio investors (FPIs) investing solely in government securities to provide investor group details.
SEBI provides clarity on the pricing and calculation of frequently traded shares under ICDR Regulations. The guidelines focus on the determination of volume weighted average price (VWAP) for preferential issues.
The ITAT Ahmedabad has allowed a taxpayer to claim a ₹1.50 lakh Section 80C deduction via a revised return as relief under Section 119(2)(b).
The ITAT Mumbai has eliminated a nil arm's length price adjustment in transfer pricing, allowing for a working-capital adjustment and excluding functionally dissimilar comparables.
The ITAT Mumbai has ruled that low returned income cannot invalidate a loan agreement without a thorough investigation into the fund trail, highlighting the need for diligent scrutiny in tax assessments.
The Delhi ITAT has deleted an ₹11.12 crore on-money addition, ruling that uncorroborated WhatsApp chats and lack of cross-examination do not suffice for tax assessment. This case reaffirms the need for independent verification in tax proceedings.