AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
SEBI extends the Samuhik Prativedan Manch to Clearing Members, consolidating 14 compliance reports to reduce duplication starting September 30, 2026.
SEBI clarified that a person need not be 'connected' to a company to qualify as an insider if they possess or access Unpublished Price Sensitive Information (UPSI).
SEBI has streamlined the nomination process for demat accounts and mutual fund folios by introducing default nominations, opt-out options, and reduced documentation requirements.
SEBI proposes changes to base prices and dummy bands in pre-open auctions for IPOs and re-listed securities to enhance price discovery and reduce market distortions.
ITAT Delhi grants 80G approval to temple, ruling religious activities do not negate charitable purpose.
ITAT Mumbai deletes ₹5 lakh addition, finding WhatsApp message and third-party statement insufficient to prove unexplained cash receipts.
ITAT Mumbai deletes Section 69 addition, holding wife’s property investment not automatically attributable to husband.
ITAT Mumbai held that once a Section 263 revision order is quashed, the consequential assessment cannot survive.
ITAT Rajkot restored ₹4.30 crore addition under Section 69A as CIT(A) failed to decide the merits, remanding for fresh consideration.
ITAT Delhi quashed PCIT’s revision under Section 263, holding that enhancement from 25% to 100% disallowance was impermissible where two views were possible.
Karnataka HC held that omitted Rule 96(10) of CGST Rules cannot apply to pending refund proceedings without a saving clause.
The ITAT Chennai held that an income tax return e-verified after filing is deemed filed on the original due date for interest under Section 234A, as long as filed within the extended time.
FEMA, LRS, ODI, and tax rules clarified for Indian residents setting up or investing in Dubai entities, with emphasis on reporting and substance requirements.