The Delhi High Court has ruled that a share buy-back constitutes a capital reduction rather than an acquisition of assets, directly affecting how such transactions are taxed under Indian law. The court held that once shares are extinguished through a buy-back, they cannot be treated as 'property received' by the company, eliminating the legal basis for applying asset-acquisition tax provisions to the transaction. The ruling draws a clear line between a company retiring its own equity and an external purchase of a third-party asset. The mechanism matters: in a conventional asset acquisition, property changes hands and a recipient holds tangible value; in a buy-back, the shares cease to exist entirely upon cancellation, making the property-received framework inapplicable. Tax authorities and corporate finance teams should review how existing and planned buy-back structures are classified in filings, as this judgment reshapes the applicable tax treatment. Companies executing buy-backs in India now have clearer judicial backing to contest asset-acquisition tax characterizations, though the ruling's finality will depend on whether it is challenged before a higher court.
GoDaddy has challenged the Delhi High Court's December 2025 Dabur India judgment before a larger bench, contesting directions to end default domain privacy and run e-KYC checks on all registrations. The July 16 hearing could reshape how registrars globally handle identity disclosure for domains serving Indian users.
The US Supreme Court ruled the government can cap asylum processing at the US-Mexico border when facilities are overcrowded. The decision gives the Trump administration, and future governments, a lasting legal tool to limit daily asylum intake at ports of entry.
MeitY will summon Meta after a BBC investigation found Instagram running paid ads in India that promoted child sexual abuse material and linked users to Telegram channels selling it. IT Minister Ashwini Vaishnaw ordered the action within hours of the BBC report's July 3, 2026 publication.
MeitY ordered Google Play and Apple App Store on 3 July 2026 to remove apps that can cut power to e-rickshaws mid-journey via Bluetooth, after viral Delhi videos showed drivers being stranded. Two apps are already down, but the core flaw sits in unprotected battery firmware, not just the apps.
