AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
NALSA announced that it will not renew the contracts of lawyers under the Legal Aid Defence Counsel System in Punjab, Haryana, and Chandigarh amid ongoing legal protests.
The Karnataka High Court ruled that the biological father of a Hindu monk cannot claim compensation for the monk's death in a motor accident, as the monk had renounced worldly life.
The Karnataka High Court emphasized that an income tax addition for unexplained jewellery should be made only in the assessment year in which the search was conducted, not any preceding years.
The ITAT has remanded a matter concerning a ₹2.71 crore cash deposit claimed as business receipts from a Cable TV subscription, requiring further examination of the source of the funds.
The Madras High Court has remanded an income tax assessment order back to the Assessing Officer, emphasizing the need to consider the Profit & Loss Account and ensuring due process after a mismatch in Form 26AS.
The ITAT ruled that a revision under Section 263 of the Income Tax Act cannot be upheld if the Assessing Officer has acted following a binding High Court judgment, dismissing the revision initiated on a subordinate authority's proposal.
The Income Tax Appellate Tribunal ruled that statements and materials acquired during a third-party search cannot be used against an assessee without ensuring compliance with natural justice principles, particularly the right to cross-examine the third party.
The RBI has announced new directions regarding statutory audits, focusing on governance, oversight, and the appointment of statutory auditors in commercial banks.
The RBI has issued directions to strengthen the internal audit functions of commercial banks, focusing on governance, effectiveness, and accountability.
New directions by the RBI elaborate on fraud risk management practices for commercial banks, providing essential guidance for minimizing fraud-related risks.
The Reserve Bank of India has issued new Directions concerning the compliance functions of commercial banks, emphasizing the roles of governance and oversight in financial institutions.
The RBI has published new guidelines on the detection, reporting, and monitoring of Fake Indian Currency Notes (FICNs), streamlining procedures for banks to counteract counterfeiting effectively.
The Calcutta High Court has directed that an appeal be filed against the rejection of a vehicle tax refund, emphasizing the need to follow statutory remedies.