Criminal review under Article 137 and Order XL Rule 1 is an exceptional remedy confined to correcting manifest or patent error, glaring omission, or miscarriage of justice; it cannot serve as a rehearing or an appeal in disguise. Finality may be disturbed only on substantial and compelling grounds. In capital sentencing, the rarest of rare assessment depends on the offence's nature, gravity, and societal impact. A prior acquittal or life sentence, or a dissent favouring acquittal or life imprisonment, does not independently constitute a mitigating circumstance or ground to review a death sentence. Capital-sentence finality remains unless a grave review error is independently established.

Supplies of agricultural farm produce in packages containing more than 25 kilograms or 25 litres are excluded from the expression "pre-packaged and labelled" under the Punjab GST exemption framework, notwithstanding the Legal Metrology Act, 2009 and rules made under it. The proviso applies from 15 July 2024, so supplies exceeding either stated package quantity threshold are not regarded as within that expression.

A goods transport agency may opt to pay GST itself on services supplied during a financial year. For the financial year 2023-24, the option was required to be exercised on or before 31 May 2023. A GTA commencing business or crossing the GST registration threshold may exercise the option by furnishing a declaration in Annexure V within 45 days of applying for registration or one month from obtaining registration, whichever is later.

Annual return filing exemption applies to registered persons whose aggregate turnover for financial year 2023-24 does not exceed two crore rupees. Such persons are exempt from filing the annual return for that financial year under the Punjab Goods and Services Tax framework. The exemption operates with effect from 10 July 2024.

Holding shares in a subsidiary by its holding company, per se, does not constitute a supply of services and is not liable to GST. Securities, including shares, are neither goods nor services, and their purchase, sale, or holding alone is not a supply. A classification entry concerning holding-company services does not independently establish taxability; an identifiable supply satisfying the statutory requirements must exist.

GSTAT appeal filing through an advocate's or authorised representative's own login raises whether an appeal lodged for a taxpayer will also be displayed in that taxpayer's GSTAT dashboard or login. The issue concerns the linkage between representative-filed appeals and taxpayer-facing portal visibility, without specifying the governing portal procedure or resulting dashboard treatment.

Banking-service contingency arrangements require Public Sector Banks and Regional Rural Banks to operate normally on Sunday, 27 September 2026, ahead of a proposed three-day bank strike. Reserve Bank approval permits bank branches, offices, ATM-linked branches and currency chests to remain fully operational. Customers are advised to use mobile banking, ATMs, internet banking, BC Points and UPI if the strike occurs, and to complete essential transactions in advance.

Recognised market infrastructure institutions must comply with institutional and individual codes of conduct, establish specified committees, and adopt key management personnel compensation policies containing malus and clawback arrangements. They must identify core and critical functions, place them in critical operations, regulatory and control, and other-function verticals, and ring-fence regulatory, legal, compliance, risk management and investor-grievance functions. Governance requirements address board composition, director eligibility, public interest director and managing director tenure, conflicts, disclosures and Authority-appointed directors. Clearing corporations must also maintain orderly winding-down arrangements for settlement, positions and member assets.

Inflationary pressures, robust demand, price rises and adverse supply developments are expected to lead to policy-rate tightening by RBI. Fitch anticipates a 25-basis-point rate rise in October, further tightening in early 2027, followed by easing in 2028. Growth projections were upgraded following stronger-than-expected June-quarter activity, but activity is expected to moderate as the effects of GST rationalisation and income-tax cuts recede, manufacturing and services slow, and below-normal monsoon conditions affect activity.

Section 153D makes prior approval by the competent supervisory authority a mandatory condition before passing an assessment under Section 153A. Approval granted on draft orders before completion of required enquiries is ineffective where the approving authority records insufficient time to verify the investigations and directs further verification. If further enquiries are then conducted under Section 142(1), the revised final assessment orders must be placed before the competent authority for fresh prior approval. Passing final orders without such approval renders the assessments void for non-compliance with Section 153D.

GST registration is not required afresh for an IRP/RP where all FORM GSTR-1 statements and FORM GSTR-3B returns for periods before appointment have been furnished under the corporate debtor's existing registration. A subsequent change of IRP/RP is treated as a change of authorised signatory and does not require another registration. Merchant-exporter export conditions expiring during the specified COVID-19 period, and FORM GST ITC-04 for the quarter ending March 2020, are extended to 30 June 2020.

The Regulations are corrected to standardise the numbering of sub-regulations and to renumber regulations 6, 7 and 8 as regulations 5, 6 and 7. Internal references are also corrected, including the substitution of clause 51 for clause 50, clause (sa) for sub-section (sa), sub-regulation (1) for sub-regulation (i), and clauses (a) and (b) of sub-regulation (1) for clauses (i)(a) and (i)(b).

India's GDP growth forecast for the current fiscal year is raised to 7 per cent, supported by investment demand, resilient consumption, manufacturing and services activity, lower-than-expected supply disruptions, and sustained capital inflows. Domestic demand, infrastructure expenditure, regulatory reforms, and improving private investment are expected to support growth. Inflation is projected to remain within the central bank's target range, subject to risks from geopolitical uncertainty, commodity prices, and weather-related disruption. Fiscal management is supported by public capital expenditure and robust direct-tax revenue.

Hughes Precision Manufacturing Pvt. Ltd. completed a Rs. 250+ crore investment round through primary and secondary investments. The capital will expand small-caliber ammunition capacity from approximately 80 million to 220 million rounds and establish a dedicated medium-caliber ammunition manufacturing facility. The expansion broadens its product portfolio and is supported by an order book exceeding Rs. 1,000 crore, including domestic defence and export orders scheduled for execution over approximately two years.

Each KRA must establish interoperable electronic connectivity with other IFSC KRAs and may connect with KRAs registered with other financial-sector regulators, while maintaining secure data-transmission links with Regulated Entities. It must store, safeguard and retrieve KYC documents, independently validate uploaded records, disseminate client updates to service-using intermediaries, maintain audit trails, and preserve data integrity, backups, controls and periodic system audits. Client data access must be limited to a Regulated Entity's own clients and subject to client consent, with compliance required under applicable data-protection law.

Transfer-pricing adjustments for accounting and BPO exports fail where comparables lack functional similarity, reliable financial data, or acceptable related-party transaction levels, and the resulting margins are lower than or within the statutory tolerance range of the taxpayer's margin. For MAT purposes, the section 10A reduction from book profit is determined from the eligible unit's profit under book-profit principles, rather than the deduction under normal computation provisions; corresponding additions are deleted. A business-expenditure disallowance under section 40(a)(ia) increases the eligible undertaking's profit, so the section 10A deduction extends to that enhanced profit.

Benami character under Section 2(9)(A) depends on the real relationship between the property holder, provider of consideration and intended beneficiary. Cash deposits routed through entities linked to an alleged benamidar and transferred by RTGS may support an inference of beneficial ownership when formal invoices, ledgers and tax records lack independent commercial corroboration. Bank funds and proceeds fall within the broad concept of property. Sworn statements, banking records and surrounding circumstances must be assessed together; the party alleging benami bears the initial burden, though evidentiary burdens may shift on proved facts.

Capacity-based duty, being unrelated to the quantity or value of finished goods or the use of inputs, displaced the input-output correlation underlying the MODVAT scheme. The related amendments rendered the accumulated MODVAT credit balance unavailable from 1 August 1997, including credit attributable to unused inputs, work-in-progress and capital goods. They effected a statutory lapse of the available balance only; they did not require a separate reversal or recovery of such credit. Treating lapsed balance credit as recoverable again would create double recovery without legal authority. Exemption-based reversal principles did not govern this statutory transition.

Wrong-head GST payment must be distinguished from a substantive error in classifying a supply as inter-State or intra-State. Sections 19 and 77 address supplies subsequently held to have a different character and do not automatically govern a mere allocation error where the supply classification and aggregate tax liability are undisputed. Where the full aggregate liability was remitted within time under an incorrect tax head, correction may occur through appropriation against the correct heads rather than a second payment followed by a refund claim.

Registration of Factors and filing of trade-receivables assignments within International Financial Services Centres are governed through a certification and reporting framework. A Factor seeking to commence factoring business must apply for a certificate of registration, unless exempt under the Factoring Regulation Act. Trade receivables financed through a Trade Receivables Discounting System must be filed with the Central Registry by the concerned system on behalf of the Factor within ten days from the assignment or its satisfaction.