AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Calcutta High Court ruled that pending public land eviction and DRT proceedings do not prohibit arbitration for disputes regarding sub-lease revocation. This decision clarifies the arbitrability of disputes in the presence of other proceedings.
In a recent ruling, the ITAT determined that ₹5.25 crore in demonetised cash could not be taxed in the hands of the taxpayer due to a lack of substantial evidence linking the cash to the individual. The case emphasizes the importance of clear linkage in tax assessments.
Clarification has been issued regarding the tax implications and FEMA regulations concerning money remitted from children living abroad, including ITR reporting and documentation requirements.
The RBI has released its 2026 Directions, consolidating supervisory returns for Non-Banking Financial Companies (NBFCs), focusing on streamlined filing, reporting requirements, and compliance.
The Telangana High Court ruled that share premium received from a non-resident shareholder during a fresh share issue is categorized as a capital receipt and not taxable income.
The Calcutta High Court ruled that pending eviction proceedings do not hinder arbitration of sub-lease disputes. The court emphasized the arbitrability of disputes under statutory proceedings.
The Telangana High Court ruled that reassessment proceedings under the Income Tax Act cannot be challenged prematurely under Article 226. This ruling clarifies the scope of judicial review at preliminary stages.
The ITAT has ruled that a taxpayer cannot be taxed for demonetisation cash if they did not open a bank account. The decision is backed by evidence including an FIR and forensic report.
SEBI has amended its Online Bond Platform (OBPP) framework to allow for the introduction of IFSCA products and 54EC bonds, implementing new disclosure and compliance requirements.
SEBI has proposed simplified digital KYC norms for non-resident Indians (NRIs), overseas citizens of India (OCIs), and foreign nationals, eliminating the need for physical presence.
SEBI has issued a warning to investors against relying on live trading strategies and real-time stock market tips shared on social media, urging them to engage only with registered intermediaries.
The Reserve Bank of India has released the second amendment directions regarding Priority Sector Lending targets and classifications, which are aimed at enhancing the flow of credit to priority sectors in the economy.
The Reserve Bank of India (RBI) has penalized Progfin Private Limited with ₹2.70 lakh for failing to adhere to KYC regulations. This enforcement action reinforces the importance of regulatory compliance within the financial sector.