AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT ruled that transfer pricing analysis must adhere to principles established by UAPA. Adjustments for royalty and FTS are limited to those rates accepted by CBDT.
The ITAT has ruled that indexed cost of improvement is allowable when computing capital gains, even if deemed sale consideration is assessed under Section 50C.
The ITAT has remanded a case involving ₹2.53 crore in unexplained cash transactions back to the CIT(A) for re-examination. The tribunal deemed an affidavit insufficient and ordered a comprehensive review of all relevant tax records.
The ITAT ruled that the retention of marriage gifts and large household cash must be substantiated by credible evidence. The tribunal's decision emphasizes the importance of timely documentation for large unexplained sums of money.
The Reserve Bank of India has announced the Kisan Credit Card (KCC) Scheme Directions tailored for Commercial Banks aiming to strengthen agricultural credit for farmers.
The Reserve Bank of India has released the Kisan Credit Card (KCC) Scheme Directions applicable to Small Finance Banks. This new framework aims to enhance the credit support provided to small-scale farmers.
The Reserve Bank of India has issued a new set of directions for Regional Rural Banks concerning the Kisan Credit Card (KCC) Scheme. This framework is aimed at improving agricultural credit facilities and support for rural economies.
The Reserve Bank of India has released new directions for Rural Co-operative Banks regarding the Kisan Credit Card (KCC) Scheme, outlining credit purposes, tenure, limits, and general instructions. These directions aim to enhance support to farmers through improved banking services.
The collaboration between India and Brazil on the Traditional Knowledge Digital Library signifies a vital step in global biodiplomacy, impacting patent examination and user-country compliance.
The Karnataka High Court quashed a tax assessment order against a Primary Agricultural Co-operative Society, ruling that the assessment lacked the society's participation, violating due process.
The Insolvency and Bankruptcy Board of India (IBBI) has introduced a fourth amendment to the insolvency regulations, enhancing the roles of creditors and imposing stricter controls over resolution costs.
The Reserve Bank of India (RBI) has issued a compounding order against Apollo Hospitals Enterprises Ltd. and five of its directors for violations of the Foreign Exchange Management Act (FEMA). This move highlights the central bank's strict enforcement of compliance with foreign investment norms.
The Delhi High Court acquitted a man in a 1983 murder case, ruling that shouting 'Maro Sale Ko' does not imply intent to kill. This decision emphasizes the need for clear evidence of common intent in murder charges.