TMI Blog2016 (4) TMI 175X X X X Extracts X X X X X X X X Extracts X X X X ..... main of Chartered Accountants. If that be so, there is no ground for challenge made out. - WRIT PETITION Nos. 2026-2031 OF 2015 (CS-RES) - - - Dated:- 29-3-2016 - MR. ANAND BYRAREDDY, J. For The Petitoner : hri M.V.Sheshachala, Senior Advocate for Shri Aravind V Chavan, Advocate For The Respondent : Shri A.S.Ponnanna, Additional Advocate General along with Smt. Pramodhini Kishan, Government Pleader, Shri Udaya Holla, Senior Advocate for Shri Vivek Holla, Advocate ORDER The facts, as stated by the petitioners, are as follows:- The first petitioner is an Association of Chartered Accountants, registered under the Societies Registration Act, 1860. Petitioners no.2 to 6 are said to be practising Chartered Account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to bring a further amendment to Section 63 of the KCS Act, by Act no. 35 of 2014. By the said amendment, the definition of 'auditor' was enlarged to include a Cost Accountant, within the meaning of the Cost and Works Accountants Act, 1959. This action on the part of the legislature, according to the petitioners, permitted Cost Accountants to do the work of auditing thereby encroaching on the profession of Chartered Accountants, which would run counter to the 97th Amendment as well as the Chartered Accountants Act, 1949. The petitioners contend that the State legislature has overlooked the classification of two distinct classes of professionals. A Chartered Accountant is governed by the Chartered Accountants Act, 1949, whereas a C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el for the petitioners. 3. The learned Additional Advocate General, Shri A.S.Ponnanna appearing for the State would contend that in the co-operative sector of the State, there are co-operative sugar factories, co-operative spinning mills, co-operative industrial societies, etc., wherein costing work plays an important role and considering the syllabus, a Cost Accountant has to go through and it was found that even a Cost Accountant has adequate knowledge of Accounting principles and Accounting Systems and taking into account the serious shortage of professionals available for carrying out the audit work of co-operative societies, it was found to be a dire need to include Cost Accountants and Cost Accountant firms within the meaning of Au ..... X X X X Extracts X X X X X X X X Extracts X X X X
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