International Financial Services Centres Authority (Bullion Market) Regulations, 2025 establish a framework for recognition of bullion exchanges and bullion clearing corporations, and registration of bullion depositories and vault managers in international financial services centres. The Regulations take effect upon notification in the Official Gazette and cover connected and incidental matters.

DGST reimbursement for admission services relating to film "83" is available only where multiplexes and cinema halls retain prevailing ticket prices and seating capacity, do not charge SGST from viewers, and separately deposit the applicable tax through prescribed challans with returns. Claims must be filed with the Proper Officer in the prescribed form with challan copies and are subject to verification. Tickets must state that SGST has not been charged. Tax already collected from viewers is excluded, and reimbursement remains subject to the six-month availability period and budgetary funds.

Sale proceeds from shares cannot be treated as unexplained cash credit merely on the basis of a general penny-stock investigation report where the taxpayer substantiates acquisition, holding and sale through allotment records, banking payments, demat statements, contract notes, broker ledgers and securities transaction tax evidence. Transactions conducted through a registered broker and stock exchange require contrary material specifically linking the taxpayer to accommodation entries, cash payments or price manipulation. Generic material concerning alleged entry operators does not displace the evidentiary burden already met. On these facts, the addition under Section 68 was directed to be deleted.

Insolvency Professionals must examine potential misuse of insolvency proceedings for purposes unrelated to resolution or liquidation. Warning indicators include creditor dominance following a recent debt assignment, connected debtors with overlapping creditor committees, inadequate competition in resolution, unsupported disproportionate creditor realisations, fraud-related regulatory or enforcement links, and unjustified related-party transactions. Indicators are not conclusive and require a holistic assessment. Where reasonable grounds indicate a fraudulent or malicious purpose, the Insolvency Professional must apply to the Adjudicating Authority with the relevant indicators, material and reasons.

Physical verification of an applicant's place of business is compulsory before registration is granted under the DGST Act, 2017. Proper Officers must complete verification within seven days of receiving the application. Under Rule 25, verification may be conducted in the presence of the concerned person, and the report, supporting documents and photographs must be uploaded in Form GST REG-30 within 15 working days following verification. The measure addresses non-existing registrants and concerns regarding registration-based tax evasion.

Section 14A disallowance requires the Assessing Officer to record cogent dissatisfaction with the correctness of the taxpayer's expenditure claim before applying the statutory disallowance mechanism. Without that recorded satisfaction, the disallowance cannot be sustained. Consequently, an unsupported disallowance cannot reduce profits eligible for the Section 80IA deduction or be added back in computing book profit under Section 115JB. The absence of a valid foundational disallowance therefore defeats both consequential adjustments.

GST refund applications received through the GST portal must be processed on a first-in-first-out basis. Proper Officers must update refund case status in the zonal Google Sheet under KPI 14, and all refund-related communications must be made through the GSTN Portal using prescribed statutory forms. Nodal officers must compile ward-level data weekly, reconcile consolidated information with GSTN MIS reports, and submit it to the Competent Authority.

BRICS finance ministers and central bank governors seek reform of global financial governance to increase emerging-market and developing-economy representation in the International Monetary Fund and World Bank. The agenda includes quota realignment, transparent leadership selection and correction of developing-country underrepresentation. Cooperation also supports expanded New Development Bank financing, local-currency lending, a multilateral guarantees mechanism, and a more flexible Contingent Reserve Arrangement for liquidity support during balance-of-payments pressures.

Constitutional review jurisdiction is distinct from appellate jurisdiction and requires a manifest error apparent on the face of the record that undermines the decision or causes a miscarriage of justice. Allegations of inadequate legal representation raised belatedly do not meet that threshold without a compelling circumstance, glaring omission, or patent mistake. A death-sentence review petition already dismissed may nevertheless be reopened for a limited oral hearing where the sentence remains unexecuted and the reopening request is made within the stipulated period. This procedural safeguard does not relax the substantive standard for review.

India-China trade reflects a widening deficit driven by imports of industrial raw materials, intermediate goods and capital goods used in manufacturing. Dependence is concentrated in electronics, machinery, computers, organic chemicals, electronic components, batteries, solar modules, active pharmaceutical ingredients and specialty chemicals. Foreign direct investment norms are relaxed for certain companies outside land-border countries where beneficial ownership from such countries remains below the specified threshold and non-controlling. Entities registered in China, Hong Kong and other land-border countries remain excluded from that relaxation.

Ward 210 (Fake Firm Cell) centralises enforcement concerning non-existent taxpayers or firms involved in tax evasion or wrongful or fraudulent availment of input tax credit exceeding Rs. 5 crore during a financial year. Its jurisdiction extends throughout the National Capital Territory of Delhi. Designated officers may exercise statutory powers for the Ward, and firms found non-existent during field verification must be transferred to it through the State Admin for further action.

The Supreme Court condoned delay, issued notice in a criminal special leave petition, and stayed operation of the High Court's impugned judgment and order until further orders. The stay preserves the position pending further consideration of the petition; no substantive GST issue or final legal determination is recorded.

Cotton-quotation betting constitutes wagering rather than gaming where parties stake money on uncertain market quotations without any interest beyond the stake. Gaming under the Calcutta Police Act requires stakes on a game, sport, pastime or contest, and a common gaming house requires gaming instruments kept or used for the keeper's profit. Boards, vouchers, books, price lists and cash boxes that merely record or evidence cotton bets are not gaming instruments. The specific statutory treatment of rain-gambling records as gaming instruments does not extend to cotton betting. Such premises therefore do not constitute a common gaming house, and the penal provision does not apply.

Power to grant, suspend, revoke or rescind a mineral procurement and transport licence rests with the Deputy Director of Mines having territorial jurisdiction. That statutory authority must exercise its own discretion and cannot suspend a licence solely on directions from the Director of Mines, who lacks the prescribed power. Suspension issued pursuant to such an instruction is invalid in law.

Bank-account attachment for recovery of unpaid DVAT and GST demands may cover tax, penalty, interest and other dues, including provisional attachment to protect revenue in specified cases. Prior approval of the Commissioner, Trade and Taxes is mandatory for attachment and detachment. Bank communications must be digitally signed, issued in the prescribed format, copied to the Nodal Officer, and sent through the concerned officer's official email account. Banks may seek Nodal Officer confirmation before detaching an account.

Appeals under Clause 15 of the Letters Patent lie from a single Judge's order under Section 622 of the Civil Procedure Code when the revisional order amounts to a judgment determining rights or interests. The majority treated revisional power as appellate in character because it reviews and corrects proceedings already decided by a subordinate court. Sections 588 and 591 did not restrict a Letters Patent appeal in those circumstances. The dissent distinguished revisional jurisdiction from appellate jurisdiction and considered statutory restrictions on appeals from orders applicable.

Centralized GST registration processing is to be established through SEVA KENDRA, a single registration cell for the entire Delhi jurisdiction. Once operational guidelines take effect, every GST registration matter is to be processed at SEVA KENDRA irrespective of area-based jurisdiction. Proper Officers deployed there are to manage GST registration applications, while transfer of Application Reference Numbers, where required under the rules, is to be undertaken only by State Administration.

Permanent settlement of Khasmahal land used as a homestead requires qualifying use for at least five years as on the appointed date and remains subject to the Collector's approval. Possession of a predecessor-in-interest may be combined with that of purchasers when calculating the qualifying period. Khasmahal leasehold rights are heritable and transferable, with a right of renewal. Following an enquiry and a Tahasildar's recommendation for permanent settlement, the Collector must lawfully exercise the statutory approval power. Unexplained inaction or repeated return of the proposal may undermine the settlement framework, and mandamus may compel lawful exercise of a statutory power where inaction causes injustice.

Statement of Financial Transactions reporting for depository transactions requires depositories to furnish half-yearly transaction information for pre-filling income-tax returns with capital gains, income and loss data. Transaction summaries must cover user-initiated demat-account debit transactions, with corresponding credits identified through the First In First Out method. Estimated sale consideration and cost of acquisition follow prescribed weighted-average, end-of-day price, fair-market-value and indexed-cost methods. Files must be submitted in the prescribed format with a signed control statement. Validation failures, inaccuracies and defects must be rectified through correction or deletion submissions.

Registrar and Share Transfer Agents must furnish half-yearly Statement of Financial Transactions data for Mutual Fund capital gains through the designated SFTP facility and submit a signed control statement. Reporting covers account summaries, security-level debit or sale summaries and off-market transactions. Sale consideration and acquisition cost must be estimated using available records, with FIFO used to identify corresponding credits and determine holding periods. Corrections and deletions must follow the prescribed statement process, and reporting entities must maintain information-security, archival and retrieval policies.