Special Audit

The Service Tax Commissionerate, New Delhi proposes to draw a panel of auditors for conducting special audit under Section 14 AA of the Central Excise Act as made applicable to Service Tax matters by the Chartered Accountants and the Cost Accountants. Please find attached the scanned copy of the Notice for Expression of Interest issued for the purpose. Full Article

The Service Tax department proposes to order for conduct of special audit of Service Tax Assessees by the Chartered Accountant and Cost Accountants under Section 14AA of the Central Excise Act, 1944, as made applicable to Service Tax under Section 83 of the Finance Act, 1944. For this purpose, it is proposed to make a panel of CA/ICWAI who may be assigned the task of audit. Full Article

Telecom tribunal TDSAT has set aside a DoT directive that asked phone companies to submit their books for CAG audit, saying that it was arbitrary. The TDSAT bench, headed by its chairman Justice S B Sinha, set aside the directive on the grounds that Full Article

The income tax department has ordered a special audit of the accounts of Commonwealth Organising Committee after detecting multiple violations of procedures. A detailed analysis of books of accounts was required to ascertain the extent of non-complia Full Article

"We are delighted with the special auditors' validation that all payments and dues, including license fees and spectrum charges have been paid by TTSL, as per the license conditions and the applicable ruling of the telecom tribunal TDSAT," the company's Legal and Regulatory Affairs Head Madhav Joshi said. Full Article

Having heard learned counsel for the parties, we have perused the impugned order and the material available on record. The apex Court, in the case of Rajesh Kumar v .Dy. Commissioner of Income Tax reported in (2006)287 ITR 91 while considering the scope of Section 142(2A)of the Act has held that before issuing the direction for the special audit it is necessary to give opportunity to the assessee. It appears that having regard to the said decision the proviso to Section .. Full Article

A special audit of Anil Ambani group firm Reliance Communications will be delayed, as the auditor Parakh & Co has sought an extension for three months from mid-July.The government has, however, asked the auditor for progress report before deciding on giving the extension and in case more time was given, the auditors would have to [...] Full Article

ICAI given the proposal of for Nomination of Chartered Accountants u/s 14A and 14AA of the Central Excise Act, 1944 for special audit. Copy of letter written by ICAI President CA. UTTAM PRAKASH AGARWAL to The Chairman, Central Board of Excise & Customs is as follows:- No.1-CA(Rep Com) /2009,  Dated: 2nd June, 2009 The Chairman, Central Board of Excise [...] Full Article