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

CA Firm Can't Use MSMED Act for Fee Recovery from Income Tax Department for Section 142(2A) Special Audits.

July 11, 2023

Case Laws Income Tax HC

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

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

CA Firm Can't Use MSMED Act for Fee Recovery from Income Tax Department for Section 142(2A) Special Audits.

July 11, 2023

Case Laws Income Tax HC

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