AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
CBIC has updated tariff values for palm oil, soybean oil, and brass scrap effective from 30 May 2026, while maintaining existing values for gold and areca nuts.
Customs Duty and Agriculture Infrastructure Development Cess concessions introduced for specified imports from Oman effective 1 June 2026, aimed at encouraging trade.
The Tribunal ruled that modular kitchen products maintain their identity as household articles and should not be classified as furniture. Customs demands based on such a classification were overturned.
Section 12(3) of the Companies Act requires specific disclosures on company letterheads. Non-compliance can result in statutory penalties.
A comprehensive summary of significant cases and judgments from the Supreme Court and High Courts reported last week. Legal professionals can gain insights into ongoing legal trends and impactful decisions.
Iscon Balaji Foods has successfully raised $215 million from institutional investors in its Series A fundraising round, facilitated by Trilegal.
ROC Mumbai has penalized a director for holding duplicate DINs, reinforcing the regulatory stance against such discrepancies.
A director has been penalized for errors in the AOC-4 filing regarding subsidiary disclosures, highlighting the risks of inaccuracies in regulatory documents.
The ROC has imposed penalties on a company for failure to maintain a functional registered office, citing repeated return of notices as evidence of non-compliance.
The treatment of Compulsorily Convertible Debentures (CCDs) as financial liabilities under Ind AS 32 is analyzed, debating whether judicial remarks categorizing them as equity hold authoritative weight.
Section 12(3) of the Companies Act mandates companies to disclose their Corporate Identification Number (CIN) and other details on their letterheads. Non-compliance can lead to statutory penalties.
The ITAT clarified that only grants received in the relevant year count for exemption under Section 10(23C)(iiiab), excluding cumulative grants from prior years.
The ITAT permitted a deduction claim on interest earned from security deposits associated with a loan to Andhra Bank, asserting it pertains directly to the business activity.