SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER For the Appellant : Shri Srinath Sridevan, Advocate For the Respondent : Shri G.M. Dass, CIT ORDER Per A. Mohan Alankamony, AM :- The appeal by the assessee is directed against the order passed by the learned Commissioner of Income Tax (Appeals)-2, Chennai dated 31.05.2017 in ITA No.200/CIT(A)-2/2016-17 for the assessment year 2014-15 passed U/s.250(6) r.w.s. 143(3) of the Act. 2. The assessee... ... ...

JWG Discusses Trade Facilitation, Customs Cooperation, Connectivity and Investment; Agrees on Follow-up Actions to Strengthen Commercial Engagement The India-Afghanistan Joint Working Group (JWG) on Trade, Commerce and Investment held its meeting virtually on 1st September 2026. The meeting was attended by officials from India and Afghanistan, including representatives from commerce, industry, customs, regulatory authorities and diplomatic missions. The two sides reviewed various issues re... ... ...

Clarifications on issues concerning availment of benefit under Section 128A of the TNGST Act, 2017 apply in the State GST framework. Corresponding central GST clarifications are adopted mutatis mutandis to ensure uniform implementation. Their application is clarificatory and confined to implementation of the State GST law.

Late fee for delay in furnishing FORM GSTR-9C is addressed under the Tamil Nadu GST framework by applying, mutatis mutandis, the clarification issued under the corresponding central GST framework. The central clarification is adopted for implementation under the Tamil Nadu Goods and Services Tax Act, 2017, to maintain uniformity in the treatment of late fee relating to delayed furnishing of FORM GSTR-9C.

Delhi GST law expands references to IGST reverse-charge liabilities, defines local and municipal funds, and introduces unique identification markings for specified goods. Persons dealing in notified goods must affix markings, provide prescribed information, keep records, disclose manufacturing machinery details, and pay prescribed system-related amounts; contravention attracts an additional penalty. The amendments also impose conditions on credit-note reductions, require pre-deposits for appeals against penalty-only orders, clarify "plant and machinery" retrospectively, and add warehoused SEZ and FTWZ supplies to Schedule III with a related refund bar.

Balance raw sugar imports under the Tariff Rate Quota scheme are opened for fresh allocation to eligible millers and refiners through the DGFT online system. Applications are processed in daily batches according to the portal time stamp, subject to scrutiny, eligibility and remaining quota. Where a daily batch exceeds the available balance, allocation is made pro rata among that batch's applicants according to their applied quantities. Applications submitted after complete quota exhaustion are not considered.

Annual-return filing exemption under the Delhi Goods and Services Tax framework applies to registered persons whose aggregate turnover does not exceed two crore rupees in a financial year. The exemption covers the annual return for that financial year and applies from financial year 2024-25 onwards to persons meeting the specified aggregate-turnover ceiling.

Statutory appellate review remains available where writ intervention is declined. Petitioners may pursue an appeal before the CIT(A), which must permit cross-examination of concerned witnesses if requested, consider all arguments, and issue a reasoned order addressing each contention. The appeal must be entertained without a pre-deposit requirement. The writ proceedings were disposed of while preserving these appellate safeguards.

GST rate and goods-classification clarifications recommended at the 55th GST Council meeting are applied under the Tamil Nadu Goods and Services Tax Act, 2017. Uniform implementation is secured by adopting, mutatis mutandis, clarificatory guidance issued by the Department of Revenue, Tax Research Unit, for Tamil Nadu GST administration.

Cheque-dishonour proceedings were stayed against a former director where the available material prima facie showed that the director resigned before the cheque was drawn. The resignation preceded the cheque by several years, making the complaint against that individual appear misconceived at the preliminary stage. Notice was issued, and proceedings against the former director remained stayed pending the next hearing.

PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.

Cheque-dishonour proceedings against a former director may lack a prima facie basis where corporate filings record resignation before the cheques were drawn. The DIR-12 on record showed that the director resigned in 2014, whereas the disputed cheques were drawn in 2018. On that basis, notice was issued and proceedings against the former director were stayed pending the next hearing.

GST applicability clarifications concerning certain services apply mutatis mutandis for implementation under the Tamil Nadu Goods and Services Tax framework. The measure seeks uniform treatment of the identified service-related GST issues within the State. The clarifications are treated as clarificatory in nature and operate in connection with implementation of the Tamil Nadu Goods and Services Tax Act, 2017.

Provisional sanction of GST refund claims relating to zero-rated supplies is to be processed through system-based identification and evaluation of risk. CBIC instructions governing this risk-based approach are adopted, mutatis mutandis, for implementation under the TNGST Act, 2017. State tax officers are required to apply the endorsed approach uniformly while processing eligible provisional refund claims filed before the proper officer.

Chhattisgarh GST amendments define online gaming, online money gaming, specified actionable claims, and virtual digital assets. Platform owners, operators, and managers arranging supplies of specified actionable claims are deemed suppliers liable for tax. Online money gaming supplied from outside India to persons in India is brought within compulsory registration. The amendments also impose a three-year limit for filing outward-supply details, returns, annual returns, and operator statements, subject to conditional governmental relaxation; revise input tax credit restrictions; and restructure tribunal, electronic-commerce penalty, offence, and compounding provisions.

The Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2000 substitute the Schedule II entry concerning advertisement abroad by a State Government or its public sector undertakings. The substituted entry identifies the Ministry of Finance, Department of Economic Affairs, in relation to that current account transaction. The amendment takes effect upon publication.

Empanelment of specified Chartered Accountants, Chartered Accountant firms, Cost Accountants and Cost Accountant firms enables their selection for conducting special audits of GST-registered persons. Inclusion in the panel does not create any right to receive allocation of taxpayers for special audit. An empanelled professional may be removed if application information or particulars are subsequently found false or misrepresented. The panel remains valid for three years from its notification.

Empanelment of chartered accountants, chartered accountant firms, cost accountants and cost accountant firms for GST special audit is amended to rectify clerical and typographical errors in the names of listed professionals and firms. The corrections align the empanelment entries with the names furnished in the respective applications and are confined to correction of the recorded names of already empanelled applicants.

Interest on borrowed funds is deductible only to the extent the funds are used for the assessee's business. Interest attributable to funds deployed for acquiring shares through an intermediary qualifies for deduction. Funds retained by a sister concern without any return, enforceable arrangement, or stipulated period for acquiring shares are not treated as used for the assessee's business. Accordingly, interest attributable to the unutilised amount retained by the sister concern is not deductible, while interest linked to the share-acquisition funds remains allowable.

JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.