Finality of income-tax settlement proceedings was central to the challenge against the determination of total income for multiple assessment years. The Settlement Commission had determined the taxpayer's income under section 245, and the resulting proceedings had attained finality, with payment directions already issued. No further question of law requiring adjudication remained. The High Court therefore affirmed the settlement determination and dismissed the writ petition.

Authorised-officer appointments for food imports are expanded by adding ICD Dhanakya, Jaipur, Rajasthan, as an ICD and SEZ point of entry. Superintendent, Appraiser, Inspector and Examiner are designated as the authorised officers at this location. The notified network consequently comprises 172 points of entry. Officer allocation operates through either an FSSAI Authorised Officer or designated Customs officers, with the applicable category specified separately for every notified point of entry.

Functional comparability requires exclusion of a high-end e-publishing and digital-content provider from the benchmark for routine BPO services, particularly where acquisitions constitute extraordinary events affecting comparability. The arm's length price must therefore be recomputed without that comparable. Employees' ESI/PF contributions paid after the prescribed due date are not deductible where the former provident-fund grace period had been withdrawn and continuous online remittance remained available. A public holiday does not extend the statutory deadline merely because physical offices are closed, since impossibility relief is unavailable where electronic payment can be made. The employee-contribution disallowance consequently remains.

The Performance Review Committee must submit, in the fixed month of each year, a consolidated report to the Authority containing findings from each review area. The Authority shall take action on the report under the statutory mechanism in section 17(2) of the Act. The reporting process connects annual review findings with required regulatory action.

Any person may submit a written complaint in the prescribed form concerning an incident within specified statutory categories. The Committee registers and numbers each complaint, may seek necessary information or confirmation from the complainant, and submits a findings report to the Authority. The Authority may dismiss a complaint where no prima facie case exists, with intimation to the complainant and Committee, or forward a prima facie meritorious complaint to the concerned authority for action under applicable laws.

Regulation 8 requires the Performance Review Committee to meet at least twice each financial year. Quorum is half of total Committee strength, including at least one member and one independent expert dealing with each review function. The Committee Secretary must circulate meeting notice, place and agenda at least seven working days in advance. Minutes are recorded as the Chair considers appropriate, the Authority's Secretary acts as Committee Secretary, and adequate resources must support effective performance of functions.

The Performance Review Committee may access all relevant records and require attendance of any employee of the Authority for performing its functions. Information concerning the Committee's deliberations and decisions may be shared only by the Chairperson or a person authorised by the Chairperson, including with the media.

Risk management review requires assessment of whether the Authority manages risks affecting its functioning reasonably. The Performance Review Committee must examine the adequacy and effectiveness of risk-monitoring measures, the appropriateness of risk-identification measures, operational safety and soundness, mitigation and categorisation of potential risks, and processes for monitoring, evaluation, and maintenance of breach records.

Compliance and governance review requires assessment of whether the Authority complies with applicable laws and promotes transparency and best governance practices while exercising its powers and functions. Regulations are examined for legal consistency, reduced stakeholder compliance burdens, transparency, fairness, non-discrimination, accessibility, clarity, understandability, and the predictability and guidance needed by regulated entities to comply.

Performance Review Committee oversight requires review of the Authority's functioning at least once in every financial year. The review assesses compliance with applicable laws when exercising powers and performing functions under the governing legislation; promotion of transparency and governance best practices through regulations; and risk management relating to the Authority's functions.

The Committee comprises two Authority members nominated by the Board and up to two independent experts for each review function. Independent experts must have relevant experience and skills and be free from direct and substantial conflicts capable of influencing their duties. Members serve three-year terms, cannot be re-nominated for two years after expiry, and vacancies are filled for the remaining term.

Definitions identify the governing statute, the International Financial Services Centres Authority, its Board, Chairperson, the Performance Review Committee, and the International Financial Services Centre. Terms not specifically defined retain meanings assigned under the governing statute, enactments listed in its First Schedule, and related rules or regulations, including statutory modifications or re-enactments.

The International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022 govern constitution of the Performance Review Committee, information to be provided, adequate resource provision, and discharge of the Committee's functions. The framework comes into force upon publication in the Official Gazette and thereafter applies to these Committee-related matters.

Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.

Insurance Web Aggregators must deal with prospects and policyholders in good faith, with integrity, care, diligence and confidentiality, while securing confidential information and assessing client awareness of insurance risk. They must maintain complaint-recording and monitoring systems, provide online complaint facilities, acknowledge communications within five working days, address grievances, and communicate further redressal options. Websites must avoid prohibited advertising, remuneration must be disclosed on request, staff must be trained and competent, and regulatory returns must be furnished as specified.

Insurance Web Aggregators must display registration, insurer arrangements, product information, and visitor-data sharing disclosures on their websites. They require permission to promote third-party offerings or allow third parties to divert clients to their website, must register for telemarketing where applicable, and must operate an effective Lead Management System. They must maintain insurer-agreement records, comply with applicable legal and regulatory requirements, accept only prescribed remuneration, and obtain prior regulatory approval for specified changes in management, ownership structure, office details, core service providers, and server location.

Insurance outsourcing to Insurance Web Aggregators may be undertaken at insurers' discretion, while execution of services remains a core activity of insurers. Each insurer-IWA relationship must be governed by a written contract covering material terms, including service charges and the parties' rights, responsibilities, and expectations. IWAs may undertake insurance outsourcing activities for insurers only through telemarketing and distance-marketing modes.

Insurance Web Aggregators conducting telemarketing or distance marketing must register as telemarketers, deploy authorised verifiers, and use website-generated leads for tele-calling. Outbound calls require express consent, while solicitation must follow insurer-approved standardised scripts covering caller identity, product features, exclusions, premiums, cancellation rights and required disclosures. IWAs are responsible for verifier conduct, must retain and transfer call records, undertake monitoring and compliance checks, and submit annual compliance certification. Insurers must identify distance-mode proposals, conduct verification calls, and preserve records. In policy-wording disputes, clients may give primacy to the Key Features Document and relevant calls.

Insurance Web Aggregators must use Lead Management Systems to record visitor details, leads and preferences, disclose potential sharing of particulars, and permit selection of up to three insurers. Leads may not be transmitted beyond preferred insurers; where no preference is made, transmission is limited to three insurers in the relevant class based on need analysis. Lead transmission must protect prospect information and follow information-technology security procedures. Annual system audits, Audit Committee review and corrective action are required, while insurers must post policy details after converting a lead.

Insurance Web Aggregators (IWAs) displaying product comparisons online must prominently notify homepage visitors that their particulars may be shared with insurers and that displayed information concerns insurers with which the IWA has agreements. Displayed product information must be authentic and drawn solely from insurer-furnished information. Content must be unbiased and factual; IWAs must not display ratings, rankings, endorsements or bestseller labels, or comment on insurers or products.