Fee payable to CA Firms, for Special Audits directed u/s 142(2A) ...

Income Tax

July 11, 2023

Fee payable to CA Firms, for Special Audits directed u/s 142(2A) - CA Firm registered as MSME - Recovery of fees due from the Income Tax Department invoking the provisions of MSMED Act - Nomination of the Special Auditor by the IT Department - IT Department cannot be termed as a ‘buyer’ when it is nominating the accountant for conducting a Special Audit and neither can the CA Firm be termed as a ‘supplier’. The remuneration payable to the accountant cannot also be termed as ‘consideration’ as the Special Audit is a statutory duty being performed by the accountant for and on behalf of the AO. - HC

View Source

← Previous Next →

Fee payable to CA Firms, for Special Audits directed u/s 142(2A) ...

Income Tax

July 11, 2023

You may also like:

Special audit u/s 142(2A) - Scope of special audit has widen after amendment in Section 142(2A) w.e.f. 1.6.2013. The special audit can now be directed not only if the...

Levying penalty u/s 272A(1)(d) - non-compliance of correspondences for special audit u/s 142(2A) - AO has written a letter to the Auditor for special audit of four case...

Special audit u/s 142(2A) - AO Jurisdiction to give directions for a special audit - necessary approval of the Principal Commissioner of the Income Tax or not? - As per...

Special audit u/s 142(2A) - the order u/s 142(2A) was never communicated or even uploaded on the portal - the purported order directing special audit u/s 142(2A) will...

Special audit u/s 142(2A) - satisfaction - The question of complexity of accounts has to be judged applying the yardstick or test; whether the accounts would be complex...

Professional misconduct by CA - Liability of the Engagement partner with audit firm - Acceptance of the Audit Engagement - The NFRA concluded that the audit firm and the...

Special audit u/s 142(2A) - in the absence of pre-decisional hearing, the decision to have special audit was invalid and consequentially, all the proceedings conducted...

Special audit u/s 142(2A) - complexity in the books of account - AO has carefully scrutinized the objections raised by the Petitioner and has fairly and objectively...

Special audit u/s 142(2A) - there are complex issues relating to introduction of land by the partners into the firms; revaluation of land; credit of partners in capital...

Special Audit - Merely because the assessee along with the return of income submitted a Statutory Audit Report and Tax Audit Report, considering section 142(2B), the...

Levy of penalty u/s. 271(1)(b) - Non compliance requirement in respect of special audit u/s. 142(2A) - Assessment proceedings furnished by the Ld. Counsel, it is...

Special Audit u/s 142(2A) - Personal appearance - proviso to Section 142(2A) does not envisage any personal hearing before an order under sub-section (2A) can be passed - HC

Professional Misconduct by CA - Liability of the Engagement Partner (EP) with Audit Firm - The NFRA refuted the firm’s claims that only the EP was accountable,...

Special audit report u/s 142(2A) - An admitted fact on record that the AO had no occasion to examine the books of accounts furnished by the assessee, which were actually...

Validity of special audit of the accounts u/s 142(2A) - petitioner has not made any objection regarding procedure followed by the AO or by the Pr. CIT, in the entire...

Quick Updates: