Validity of Guidelines issued by the Institute of Chartered ...

High Court Challenge: ICAI's Cap on Tax Audit Assignments Faces Legal Scrutiny, Supreme Court Transfers Related Petitions Nationwide.

April 8, 2021

Case Laws Indian Laws SC

Validity of Guidelines issued by the Institute of Chartered Accountants of India (ICAI) - specified number (Cap) of tax audit assignments - The guidelines which are impugned in the High Court and consequent disciplinary proceedings initiated against various chartered accountants throughout the country is an issue of public importance affecting Chartered Accountants as well as the citizens who have to obtain compulsory tax audits. - Transfer Petitions are allowed. - SC

View Source

← Previous Next →

Validity of Guidelines issued by the Institute of Chartered ...

High Court Challenge: ICAI's Cap on Tax Audit Assignments Faces Legal Scrutiny, Supreme Court Transfers Related Petitions Nationwide.

April 8, 2021

Case Laws Indian Laws SC

You may also like:

The Supreme Court examined the validity of a guideline issued by the Institute of Chartered Accountants of India (ICAI) imposing a numerical restriction on the maximum...

The High Court dismissed the writ petition challenging the notice issued u/s 65 of the Maharashtra Goods and Services Tax Act, 2017 for conducting an audit for the...

The document details an administrative instruction (No. 01 of 2024) from the Directorate of Income Tax (Systems) regarding the centralized generation of Provisional...

Power to conduct service tax audit - Thought, Rule 5A only providing access to the registered premises as also to the documents demanded for scrutiny by the Audit party,...

Power of CAG to conduct service tax audit of private party - Central Excise Revenue Audit (CERA) - Validity of notice intimating that petitioner’s case has been selected...

CBDT extends due date for filing Income Tax Returns and Tax Audit Reports

Tribunal found assessee had reasonable cause for delay in furnishing Tax Audit Report due to delay in finalization of statutory audit arising from dispute between Board...

Penalty levied u/s 271B - tax audit report - In our view, strained relationship with the earlier CA would constitute reasonable cause. The tax authorities have pointed...

Service Tax Audit - Post GST era - Power of Officers of the CGST Audit to conduct audit as per Section 174 (2) (e) & (f) of the Act of 2017 read with the Act of 1994 -...

Scope of Limited Scrutiny - Accrual of income - Addition towards advance fees and deposits from old students - AO attempt to convert limited scrutiny into complete...

The NFRA held the Engagement Partner (EP) and Engagement Quality Control Reviewer (EQCR) guilty of professional misconduct u/ss 132(4), 22 of the Companies Act 2013 and...

Determination of turnover for tax audit u/s 44AB - The A.O. in the assessment order has referred to share trading guidance note on tax audit under Section 44AB of the...

Levy of penalty u/s 271B - failure to get the accounts audited and furnished the audit report before the specified due date - Statutory auditors appointed by the CA&G -...

The case involved the scope of limited scrutiny and the validity of a notice u/s 143(2) of the Income Tax Act. The assessee's case was selected for limited scrutiny to...

Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

Quick Updates: