Sections 92C and 92CA of the Income-tax Act, read with binding CBDT transfer-pricing instructions issued under section 119, allocate arm's-length price determination roles between the Assessing Officer and the Transfer Pricing Officer. Where the prescribed circumstances require a reference, the Assessing Officer cannot conduct a detailed examination of the international transaction price at the reference stage or determine the arm's-length price directly. Non-reference to the Transfer Pricing Officer breaches the mandatory instructions. Consequently, a transfer-pricing adjustment made directly by the Assessing Officer without the required referral procedure is invalid.

Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.

Service tax appeals and pending applications were permitted to be withdrawn; they consequently stood dismissed as withdrawn. The related application seeking withdrawal was disposed of. No substantive service-tax issue, legal principle, or merits determination appears in the material. The disposition therefore ended the proceedings without deciding the underlying service-tax dispute.

RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.

Revisionary jurisdiction under Section 263 cannot be sustained merely because the revisional authority considers further inquiry desirable where reassessment specifically examined the relevant share transactions. Supporting material, including bank-account details, broker statements and transaction particulars, was furnished, and the transactions formed part of regular trading through an established broker. In the absence of an identified inquiry deficiency, ignored material, evidentiary defect or necessary further inquiry, the reassessment view remains a plausible view. The requirements of an erroneous order prejudicial to Revenue interests are therefore not met, making revision unsustainable.

Re-transportation of machinery to a vendor for tooling and performance testing, without separate consideration, forms part of the original already-taxed transaction and is treated as a non-taxable supply within exempt supply. Although movement otherwise than by way of supply may be supported by a delivery challan, e-way bill compliance remains required where applicable. For exempt goods, detention provisions permit recovery only of the prescribed penalty for e-way bill non-compliance, not tax. The tax demand is therefore restricted to the statutory penalty applicable to exempt goods, with refund of any excess amount deposited.

The export policy for durum wheat classified under ITC (HS) code 10011900 and wheat classified under ITC (HS) code 10019910 is revised from 'Prohibited' to 'Free' with immediate effect. Exports of these specified wheat products may therefore proceed without the prior prohibition applicable under the earlier policy classification, subject to the applicable Foreign Trade Policy framework and other relevant conditions.

The export policy for wheat or meslin flour, including atta, maida, semolina, wholemeal atta and resultant atta classified under ITC (HS) Code 11010000, is revised from Prohibited to Free with immediate effect. Exports of these wheat flour and related products may therefore be undertaken without the prior prohibition applicable under the earlier export policy, subject to applicable foreign trade requirements.

Supply of lottery is treated as a supply of goods under the Gujarat Goods and Services Tax framework. Lottery is to be classified under "Any Chapter" of the First Schedule to the Customs Tariff Act, 1975, despite the "-" classification shown in relevant rate notifications. Returns and tax payments are linked to the prescribed rate for the supply, and tax on lottery must be paid at the applicable rate of 12% or 28%, as the case may be.

Sectoral rules of origin under the Asia-Pacific Trade Agreement require listed goods to satisfy product-specific Change in Tariff Heading criteria. CTH requires non-originating materials to change from any other tariff heading to the heading of the finished product. Synthetic rubber is subject to CTH except from the natural-rubber heading. Sectoral criteria apply first; where they cannot be met, the general origin criterion under rule 4(a) applies sequentially. The final manufacturing process must occur in the exporting participating State.

The Amnesty Scheme permits one-time settlement of export-obligation defaults by Advance Authorisation and EPCG Authorisation holders through payment of applicable Customs duty and interest. Registration was extended until 31 December 2023, and completion of duty-and-interest payment was extended until 31 March 2024. Registered holders are required to complete payment promptly; outstanding payers are identified in Annexure A, with implementation assistance available through a designated Customs nodal officer.

APTA preferential concessions depend on a valid Certificate of Origin issued by a designated authority, presented to Customs within its validity period, and supported by direct-transport documentation where goods pass through non-APTA territory. Customs may verify authenticity or origin status, suspend preferential treatment pending verification, and release goods subject to administrative measures where prohibition, restriction or fraud concerns do not arise. Non-response or insufficient verification information, followed by unresolved bilateral consultation, may lead to denial of preferential treatment.

Disbursal of drawback amounts is to be made into exporters' accounts through the Public Financial Management System (PFMS). The arrangement concerns electronic transfer of eligible drawback amounts to exporters' accounts through the prescribed financial management platform. The implementation directions operate as standing instructions for concerned officers, and operational difficulties may be raised with designated export appraising officers.

Arbitration petitions under Section 20 of the Arbitration Act, 1940 accrue when an arbitrable claim is made and repudiated, not merely on contractual breach or lease expiry; the petition was therefore within the three-year limitation period under Article 137. Section 15 of the Public Premises (Eviction of Unauthorised Occupants) Act, 1971 did not bar jurisdiction because a Section 20 petition seeks enforcement of an arbitration agreement rather than adjudication of eviction, rent or damages. Estate Officer proceedings did not prevent arbitration. Disputes over lease duration, rent enhancement and eviction during the claimed lease term required interpretation of the lease and fell within the arbitration clause. The agreement was filed and covered disputes referred to an arbitrator.

Industrial electricity tariff revision is proposed from 1 September for 33 KV and 11 KV consumers within the Damodar Valley Corporation command area. The increase is confined to the shared distribution-licence area, while a separate and higher tariff structure applies outside it. Steel and sponge-iron industry associations oppose the revision on the basis that it will raise energy costs and affect investment conditions. They seek withdrawal of the increase and request continuing supplies of high-grade coal and iron ore for sponge-iron production.

Form 140 reporting is questioned where recurring payments cross the aggregate TDS threshold during Q2. The issue is whether gross amount should be reported cumulatively from April to September at Rs.1,20,000 with TDS of Rs.2,400, or only for Q2 at Rs.60,000 while reporting the same TDS. Resolution depends on whether Form 140 requires cumulative reporting after threshold crossing or quarterly reporting of payments or credits, and on reconciliation with recorded manpower expenditure.

Export General Manifest compliance requires the person in charge of a conveyance carrying export goods to deliver the EGM to the proper officer before departure. Incorrect EGM filing can delay post-export incentives and other export benefits. The EDI system records EGM errors after Shipping Bills are filed and EGMs are delivered. Exporters and Customs Brokers are required to identify and rectify listed EGM discrepancies under the prescribed rectification procedure for availing post-export benefits and incentives.

Customised printing contracts are composite supplies whose tax classification depends on the principal supply. Printing of publisher-supplied content on books, pamphlets, brochures, annual reports and similar material, using paper and other inputs belonging to the printer, is principally a supply of services. Printed envelopes, letter cards, boxes, tissues, napkins, wallpaper and comparable articles made with the printer's physical inputs are principally supplies of goods, with recipient-provided designs, logos or content treated as ancillary printing elements.

ERAM automates customs exchange-rate publication and ICES integration for valuation of imported and exported goods under section 14 of the Customs Act. Bank-supplied Bill rates, adjusted to the nearest five paise, will be transmitted through ICEGATE, published online at 6:00 p.m., and apply from midnight of the following day until revision. Online publication replaces exchange-rate notifications from 4 July 2024. Where transmission or integration fails, prior rates remain operative temporarily, with automated alerts, nodal-officer monitoring, and manual intervention for prolonged unresolved failures.

GST on superior kerosene oil supplied for extraction of n-paraffin is payable only on the net quantity retained by the Linear Alkyl Benzene manufacturer. Where the remaining SKO is returned to the refinery, its return does not separately attract GST in that transaction. The refinery is liable for GST on returned SKO when it subsequently supplies that quantity to another person.