AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT Mumbai has partially allowed Red Hat India's appeal, remitting transfer pricing issues while permitting working capital adjustments and removing the unearned revenue addition.
The ITAT Bangalore has excluded Infosys and three other comparables from the transfer pricing benchmarking, allowing for working capital adjustment and granting Section 10A deductions on enhanced profits.
The ITAT Hyderabad has excluded six comparables from the transfer pricing analysis due to significant turnover and functional differences. The tribunal also mandated a remanded computation of profit margins alongside a standardized 90-day credit period for receivables adjustment.
The RBI's draft loan pricing regulations for 2026 propose a cap on APRs for microfinance and personal loans below ₹50,000, deemed essential to combat usury.
The RBI and ED have outlined the procedures for NOCs, adjudication, and compounding related to FEMA violations, highlighting compliance triggers for expected cases in 2025-26.
The Delhi High Court has directed stakeholders to discuss and implement accessibility features in films for disabled audiences. This directive promotes inclusivity in media and entertainment sectors.
The Kerala High Court Advocates' Association has pushed for the immediate enactment of a Lawyers Protection Act following a violent attack on lawyers' family members. The incident highlights the urgent need for enhancing safety measures for legal professionals.
Retired Supreme Court Justice KM Joseph emphasized that rulers derive authority from the consent of the governed, expressing concern over increasing political defections that undermine democratic mandates. His remarks remind leaders of their accountability to the public.
The Madras High Court's examination of Section 107A in the Novartis AG case provides greater clarity on the evidentiary standards for the Bolar exemption, raising concerns about the burdens on manufacturers that could undermine the exemption's intent.
The Delhi High Court's ruling in the Saregama v. Ilaiyaraaja case delineates the evidentiary requirements for granting interim injunctions in copyright disputes, offering vital guidelines while leaving certain questions outstanding regarding validity and digital rights.
The Delhi High Court has directed Meta to clarify its policies regarding the Rights Manager tool amidst ongoing tensions in India's intermediate liability framework for copyright enforcement. This issue arises alongside recent amendments to the IT Rules, reshaping obligations of online platforms.
The Calcutta High Court ruled that a Cash Credit/Overdraft account cannot be classified as a Non-Performing Asset (NPA) unless it meets the criteria of being overdue for 90 days or is categorized as 'out of order'. This decision emphasizes the necessity of adherence to specific statutory provisions for NPA classification.
The CBDT has issued new rules under the Foreign Assets of Small Taxpayers Disclosure Scheme, enhancing compliance requirements for taxpayers while promoting transparency in foreign asset reporting.