AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi High Court has stayed reassessment proceedings under Section 148, highlighting the importance of supplying all material relied upon in administrative actions. This ruling reinforces procedural rights of taxpayers during reassessment.
In a recent ruling, the Pune ITAT upheld that the lift cost of ₹72.69 lakh should be included as part of the work-in-progress (WIP) under the percentage completion method, rejecting prior period expense claims. This ruling reinforces the treatment of project-related costs for tax assessments.
The Central Government has enacted revisions to the central excise levies applicable to the exports of petrol, diesel, and aviation turbine fuel (ATF) effective from August 15, 2026. This new notification adjusts various levies, significantly reducing costs for exporters.
The NCLT admitted a ₹2.47 crore insolvency petition, concluding that WhatsApp chats failed to prove a pre-existing dispute. The decision underscores the need for substantive evidence in insolvency matters.
The Income Tax Appellate Tribunal (ITAT) restored the income tax assessment for a 66-year-old blind taxpayer, addressing issues surrounding accessibility to e-records for disabled individuals. This ruling reinforces inclusive practices in taxation.
The Delhi High Court determined that the amended pre-deposit rule for GST appeals does not apply where the Show Cause Notice was issued before October 1, 2025. This ruling clarifies procedural expectations for taxpayers.
In response to evolving market conditions, the RBI has updated its Third Amendment Directions for Housing Finance Companies, focusing on recovery agent engagement practices.
The NCLT Ahmedabad has initiated the Corporate Insolvency Resolution Process against Varidhi Cotspin for failing to discharge a debt of ₹43.39 crore. This decision emphasizes the need for strict adherence to financial obligations under corporate law.
The Delhi High Court has quashed summons issued to the directors of a tea company under the SWM Act, ruling that no proceedings could be sustained against them without the company being impleaded as an accused.
The Reserve Bank of India has successfully conducted a 7-day Variable Rate Reverse Repo (VRRR) auction, receiving offers amounting to ₹98,945 crore out of the ₹2,00,000 crore notified. The cut-off and weighted average rate stood at 5.24%.
The ITAT Delhi has granted Section 10(10B) exemption for compensation under BSNL's 2019 Voluntary Retirement Scheme, classifying the compensation as retrenchment compensation. This ruling aids employees seeking tax relief on such payments.
The CBDT issued Circular No. 9/2025, granting relief from higher TDS/TCS liability for inoperative PANs under Section 206AA/206CC. This aims to alleviate financial burdens on taxpayers affected by PAN issues.
The Kerala High Court has mandated that Micro, Small, and Medium Enterprises (MSMEs) must proactively seek rehabilitation when facing incipient financial stress.