AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The abrupt removal of the film 'Satluj' from ZEE5 post-release raises significant legal questions regarding censorship and copyright enforcement. This case exemplifies tensions between access to cultural content and copyright regulations.
Proposals for significant amendments to the Indian Copyright Act are underway despite the absence of a formal public consultation process. Stakeholders have expressed concerns regarding the potential impact of these changes on existing copyright practices and rights.
The RBI has amended prudential norms regarding income recognition for specified non-financial assets for NBFCs, effective October 1, 2026.
The RBI has amended income recognition directions for specified non-financial assets applicable to All India Financial Institutions, ensuring clarity in accounting treatment.
RBI has amended income recognition rules for specified non-financial assets in Urban Cooperative Banks, effective October 1, 2026.
RBI has amended the income recognition rules for specified non-financial assets applicable to Rural Co-operative Banks, effective October 1, 2026.
The RBI has amended income recognition norms for Regional Rural Banks concerning specified non-financial assets, with changes effective October 1, 2026.
The RBI has amended its directions for Local Area Banks concerning income recognition for specified non-financial assets, effective October 1, 2026.
The RBI has consolidated its SRVA framework and rationalized the rules concerning INR cross-border settlement, effective immediately.
The Calcutta High Court dismissed a 26-year-old claim stating that new shares cannot be included in a pending suit without a counterclaim. The decision emphasizes the importance of timely legal action under the Companies Act.
The CBIC has designated the Mumbai Customs Commissioner as the common adjudicating authority for pending Show Cause Notices (SCNs) across various customs offices, centralizing adjudication processes. This change aims to promote uniformity in decision-making.
The ITAT determined that the limitation period for invoking revisionary jurisdiction must be calculated from the original assessment order date, quashing the related revision order. This ruling underscores the importance of adherence to procedural timelines.
The ITAT has ruled that taxpayers retain the right to carry forward capital losses even if a revised ITR is filed after the deadline, provided the original ITR was submitted on time. This decision safeguards taxpayer rights within income tax regulations.