AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Kerala High Court ruled that a pillion rider injured in a motorcycle accident is entitled to compensation despite the rider's negligence. The court emphasized that innocent guests cannot be held responsible.
The Punjab and Haryana High Court ruled that insolvency proceedings do not exempt directors from prosecution under Section 138 of the NI Act for cheque bounce cases. The court dismissed a petition seeking immunity for directors.
The Madras High Court clarified that while DEPB licenses qualify as 'goods,' they are not automatically entitled to Input Tax Credit (ITC) under the Tamil Nadu Value Added Tax Act. This decision highlights the necessity of satisfying statutory eligibility criteria.
The Institute of Chartered Accountants of India (ICAI) has extended the deadline for the transfer of goodwill associated with deceased CA members' proprietary firms from one year to three years. This amendment aims to provide more flexibility for the firms navigating the transfer process.
A new comprehensive guide detailing the taxation and compliance requirements for Virtual Digital Assets (VDAs) under the Income Tax Act, 2025, has been released for practitioners and stakeholders.
The Delhi High Court has upheld the Income Tax Department's addition of unexplained income related to four 24-carat gold bars found in a locker, which could not be justified by the explanation of customary family jewellery.
The Delhi High Court ruled that claiming customary family jewellery does not account for the presence of unexplained gold bars, affirming the Income Tax addition.
The Delhi High Court upheld a conviction under Section 138 of the Negotiable Instruments Act, stating that an unsupported claim regarding a blank cheque does not negate statutory presumptions.
The RBI has issued Second Amendment Directions for Small Finance Banks, updating protocols on income recognition and asset classification.
With the publication of the Second Amendment Directions, the RBI reinforces guidelines regarding income recognition and asset classification for Urban Cooperative Banks.
The Reserve Bank of India has issued a Second Amendment Directions for Regional Rural Banks concerning income recognition, asset classification, and provisioning, reinforcing regulatory compliance.
The Calcutta High Court has increased the Motor Accident Claims Tribunal (MACT) compensation to ₹12.5 lakh, rejecting the insurer's outdated income claim. This ruling underscores the importance of updated and accurate evidence in MACT cases.
The RBI has declared Coöperatieve Rabobank U.A. has ceased to be a banking company under the Banking Regulation Act, impacting its operational capacity in India. This shift requires legal scrutiny and compliance adjustments.