AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi High Court granted an ex parte ad-interim injunction against the use of a lyric line claimed by Ivy Entertainment as a distinctive hook of a song. This decision underscores the application of copyright law in the context of popular culture and music.
The CESTAT Mumbai ruled that electronic evidence presented for a customs duty demand was insufficient under Section 138C requirements, quashing the demand.
India has levied an anti-dumping duty on Monoisopropylamine imports from China following evidence of price undercutting. This measure aims to bolster local manufacturing.
The Ministry of Finance has extended the anti-dumping duty implementation until November 2026 via new customs notification, reinforcing protective measures for domestic industries.
The CESTAT Delhi determined that multifunction protection devices qualify for customs exemption as they maintain their essential character as relays. Ancillary features do not alter this classification.
The Delhi High Court ruled that CBDT circulars cannot compel a 20% deposit in every stay application, marking a significant precedent in taxpayer rights and administrative procedure.
The ITAT Ahmedabad held that interest income from co-operative banks is eligible for a deduction under Section 80P, aligning with prior Gujarat High Court rulings.
The Delhi High Court invalidated an assessment order for failing to consider the reply filed by the assessee, a significant ruling reinforcing the principles of natural justice in tax assessments.
The RBI has revised Investment Fluctuation Reserve norms for Urban Co-operative Banks, allowing drawdown of excess IFR balances beyond mandatory thresholds.
The RBI has revised Investment Fluctuation Reserve norms for Payments Banks to address operational challenges, linking reserves to investment portfolio exposure.
RBI has amended Investment Fluctuation Reserve norms for Small Finance Banks to address operational difficulties and prescribe a minimum reserve linked to exposure.
RBI’s new framework exempts certain Type I NBFCs from mandatory registration, reducing compliance burdens for private investment vehicles.
The RBI has released draft amendments for capital adequacy disclosures under Basel norms, focusing on transparency and improved risk reporting standards.