AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Himachal Pradesh High Court has set aside a retrospective cancellation of GST registration under 'Project Anveshan'. The court allowed the petitioner to file a detailed reply before the Proper Officer challenge the retrospective nature of the cancellation.
The Debt Recovery Appellate Tribunal (DRAT) Chennai has dismissed an appeal concerning a ₹115 crore loan recovery due to a significant delay in filing, highlighting procedural compliance.
The ITAT stated that penalties for misreporting income cannot be levied where a co-operative society was penalized for incorrect PAN classification. This emphasizes the necessity for accurate classification to avoid punitive measures.
The ITAT ruled that a delayed filing of Form 67 does not extinguish an assessee's right to claim Foreign Tax Credit (FTC). This decision emphasizes the principle of substance over form in tax matters.
The NCLT Mumbai has rejected claims from Jet Lite employees seeking treatment as Jet Airways workmen during liquidation. The Tribunal held that no employer-employee relationship was established.
The NCLT Kochi has ruled that proposed amendments to a company petition introduce new causes of action, which are impermissible under Rule 155 of the NCLT Rules. This decision underscores the importance of adhering to procedural rules in NCLT proceedings.
The Bar Council of India has mandated law students to submit an undertaking ensuring compliance with social media ethics before admission and internships. This reflects evolving standards in legal education.
Sunsure Energy has obtained ₹262 crore project financing from FMO and Axis Bank, advised by DSK Legal. Legal support included negotiating transaction documents and compliance matters.
The RBI has announced the upcoming auction for government treasury bills, aiming to manage short-term liquidity needs and promote efficient government financing.
The RBI has set the redemption price for premature redemption of Sovereign Gold Bonds 2020-21 and 2021-22 series, allowing bondholders an option to redeem their investments before the maturity period.
Several State Governments are set to auction an aggregate of ₹21,700 crore in securities, with individual states offering various amounts and tenors. This auction helps states raise funds for various developmental projects.
The Madras High Court has dismissed writ petitions challenging GST Section 74 show cause notices, allowing for replies and adjudication on merits.
The ITAT ruled that a low-income individual labeled as a name-lender for a co-operative society is not liable for commission income additions due to lack of evidence.