The Court ruled that issuance of notice under Section 35(3) BNSS is the general rule for offences punishable up to seven years. Arrest can be made only in exceptional circumstances after satisfying statutory conditions and recording reasons.
The Court held that the petitioner ought to have participated in the assessment proceedings after the notice was uploaded on the GST portal. Since the taxpayer bypassed the statutory process, the writ petition was dismissed.
RBI has withdrawn key investment restrictions applicable to FPIs investing in Government Securities under the General Route. The amendment is aimed at improving ease of investment and attracting greater foreign participation.
The Court held that penalty under Section 129 cannot be sustained without evidence of intent to evade tax. Since the goods were unloaded at the assessees own godown and no discrepancies existed in the documents, the penalty was set aside.
RBI has mandated that specified FEMA-related statements be filed through the Centralized Information Management System (CIMS) from June 30, 2026. AD Category-I banks must use designated return codes and submit NIL reports where applicable.
The Court held that the period during which the review petition remained pending should be excluded while computing limitation for issuance of a show cause notice. It also directed the petitioner to cooperate fully with the ongoing investigation.
The MPC retained the repo rate at 5.25% and maintained a neutral stance despite growing inflation risks. It held that greater clarity on geopolitical developments, supply disruptions, and inflation trends is needed before changing policy rates.
The Monetary Policy Committee retained the repo rate at 5.25% and maintained a neutral stance despite rising inflation risks. RBI held that greater clarity on global shocks and supply disruptions is needed before policy adjustments.
RBI has issued draft amendment directions to allow greater flexibility in pricing Rupee bulk deposits while maintaining transparency in interest rate disclosures. Stakeholders have been invited to submit comments by June 20, 2026. RBI Invites Public Feedback Because Deposit Interest Rate Framework Is Set for Revision
The Court refused bail in a disproportionate assets case after noting allegations that assets worth ₹82.38 crore exceeded known sources of income by about 1152%. Issues relating to valuation and income justification were left for trial.
