AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The compliance calendar for June includes critical deadlines for TDS payments, GST returns, and annual company-law reporting requirements, essential for practitioners to monitor.
The revised ethics code of ICAI provides guidance on the advertising practices of sustainability assurance providers, mandating consultation with the Ethical Standards Board when in doubt.
As of May 31, 2026, the RBI reported a total of 2,473 applications pending from the previous month, underscoring the demand for services under its Citizen’s Charter.
SEBI has revised nomination norms for demat accounts and mutual fund folios to enhance investor onboarding. The updated framework addresses stakeholder feedback regarding implementation issues.
The IRDAI has issued a warning to a broker for implementing shareholding changes without prior approval, highlighting the need for compliance with regulatory norms. Corrective measures and future commitments were considered in the ruling.
The recent updates to the UDIN portal introduce field-level validation for Section 44AB, fostering greater trust among stakeholders and enhancing the integrity of the CA profession in financial reporting.
The ITAT has upheld the addition of ₹37.20 lakh as undisclosed income from automobile parts, stating that the assessee's retraction was invalid. The tribunal emphasized the weight of evidence presented to substantiate the claim of undisclosed income.
The ITAT has ordered fresh adjudication of a Section 148 notice issued by the Jurisdictional Assessing Officer instead of a Faceless Assessing Officer, highlighting procedural compliance in tax reassessment.
The ITAT has ruled that mere suspicion cannot substitute evidence in penny stock share transactions, deleting a ₹2.82 lakh addition under Section 68. This judgment reinforces the necessity of solid evidence in financial assessments.
The Orissa High Court has dismissed a writ petition challenging GST search authorisation, directing the petitioner to seek alternative remedies under Section 107. The ruling emphasizes the High Court's restraint in matters when effective alternatives are available.
The CESTAT has permitted BSNL to claim Cenvat credit for housekeeping services used for telecom operations, but denied credit for rent-a-cab services. This ruling clarifies the extent of applicable Cenvat credits within the telecommunications sector.
The Reserve Bank of India has released an update on the money market operations, detailing amounts and rates effective as of May 29, 2026. This information is pivotal for financial institutions managing liquidity.
The ITAT ruled that an uncontroverted affidavit seeking delay condonation under Section 249(3) cannot be disregarded without contrary evidence. This maintains the integrity of the procedural framework in tax filings.