Date: 30th January 2018
To,
The Principal Chief Commissioner of Income Tax (A/C)
Central Revenue Building, No.1
Queen’s Road
Bengaluru – 560 001
Dear Sir/Madam,
Re: BRANDISHING CA COMMUNITY IN SLANDEROUS MANNER
The Karnataka State Chartered Accountants Association (R) (in short ‘KSCAA’) is an association of Chartered Accountants, registered under the Karnataka Societies Registration Act, in the year 1957. KSCAA is primarily formed for the welfare of Chartered Accountants and represents before various regulatory authorities to resolve the professional problems faced by chartered accountants and business community.
With this backdrop, we have written to your good selves many a times populating issues and possible solutions. As you are already aware about the Press Release by the Director General of Income Tax (Investigation) – Karnataka & Goa, wherein fraudulent income tax refund scam busted in Bangalore- a case of tax professional abetting tax evasion. In this connection, we wish to present before you the following facts on the ongoings:
- The press release spoke of a practicing Chartered Accountant, who was hand in glove with the fraudulent income tax refund claims by filing revised returns in connivance with employees of noted corporates like IBM, Vodafone, Biocon, Infosys, ICICI Bank, CISCO etc. and collecting a said percent as kickback for such favours.
- There was a repeated reference to the aspects and quantifying as CA in the said release and this has been in circulation in social media and print media on a mass scale.
- A section of media has been pointing out and portraying the CA community in bad light. This has been rather disturbing as they have taken the fact that multiple CA offices were raided, and incriminating evidence were found. Such news though baseless has raked up and projected the fraternity in a manner which is questionable.
- The profession being media trialed is a sad state of affairs for the illustrious profession, which is governed by rather stringent code of ethics and peer reviews.
- A censure has to be person wise rather than brandishing a community on singular terms.
- To top this all, the very fact that the notorious consultant Mr. Nagesh Shastry falsely pretended to be a CA to lure clients and provide professional services in such capacity came up in the interaction with Shri. B.R. Balakrishnan, DGIT (Inv.), Bengaluru as had with the Chairperson and office bearers of ICAI Bangalore Branch and Chairman of SIRC of ICAI.
- While the Income tax officials have agreed to provide a statement in writing to ICAI, New Delhi, in due course to clarify this to Institute and General Public; it is our kind request to your goodselves to issue a press release on this matter as Corrigendum and clarification of the facts. Also, it is our request to your goodselves to exercise restraint in communication till trial of subject.
We would be highly thankful if you could have a press release to this extent and also, seek restraint in communication by singularly naming community in future and measured disclosure is highly appreciated! Further, keeping with the friendly tradition and support that we have enjoyed all the while, we extend our fullest support and seek your support as well to render the best of services in nation’s interest!
Thanks & Regards,
CA Raghavendra T N | President
KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION
No.7/8, 2nd Floor, Shoukath Building, S.J.P Road, Bangalore – 560002. India
T +91 80 2222 2155 | M +91 98801 87870| E [email protected] | W kscaa.com
Author Bio
Well Done. Excellent & laudable efforts by KSCAA.
As a Whole CA is an illustrious profession, rendering yeoman service to the nation, especially in the revenue generation both for Central & State govts.
Portraying CA community in bad light is wrong and condemnable, forgetting the role played them in National Building.
Blamming CA community and profession as a whole should not happen. Further, authentication of news must be verified before passing on to the media, etc. The Institute need to take it up with the Finance Minister and other officials and ask the CBDT to take back derogatory remarks made against CAs as written by CA Chhajed. CA Profession has a n image and that image is not just like that. Request Media also to be responsible and sincere in reporting.
There is no doubt that a CA is behind all wrong doings of people, specially of businessmen. Too many bad apples in this fraternity. It is rare to see a CA following ethics. Every wrong thing in financial matters in India is guided by aCA.It is not possible without guidance of CA. Their orgn shd look inward rather than blaming others.
Kudos to all friends who have stood by the fraternity. Rightly pointed out by our friends.1. CBDT must take back the derogatory remarks. 2. Finance ministry must be very very stern on such bogus people.3. Any authority must verify the authenticity before making any remarks.4. Any CA can say with extreme pride that CA fraternity is one that follows ethics to a great extent. CA A N V Ramani
If the culprit was not a CA, why is it that the CA institute has not issued a press statement with the actual facts?
There are Bad apples everywhere.
Good efforts by KSCAA. I think KSCAA should issue
clarifying the issues through a press release.
Hope to see the release soon.
GOVT. HAS TO BRING LAW TO REGULATE THE CAs working in industry. They r responsible for a lot of wrong doing. The auditor not being a blood hound will not be able to sniff out all their wrongdoings.
In fact media has become nuisance that frustrates the process of law in the name of informing the general public whether or not they understand the information correctly. In my opinion judiciary n advocates must join the hands with CAs and other tax professionals to counter media n executive as the nature of work of a lawyer n tax professional is same and if one community is being blamed today it will reach out to others also in due course.
Every body knows that all industry required publicity rather than knowing impact on society. Protest on road is the only solution in this era to over come this kind of attitude
Dear Sir,
I have filed a revised return for the AY 2016/17 on 15/03/2017 and was informed by CPC Bangalore that my return is referred to AO in Mumbai.
I visited the AO office a couple of times and on 16th October 2017 his reply was E-AST26370 : rectification of ITR forms is under construction for AY2016 and will be released soon. I do not understand when I have filed a revised return why this rectification reply is sent to me.
On 4th January 2018 I again me the AO, here again he is showing me the same response on his computer. Then he sent a msg to CPC/ITBA to rectify the matter and assured me that within 2/3 days he will receive the reply and accordingly he will proceed with my claim.
Unfortunately, the AO has not received any reply till date that is 31st January 2018. I just fail to understand the delay and when I will receive my claim. Please Help.
Well written Sir. It’s very very essential that
Department should make a detailed Press Release.
Well done. Appreciate the efforts by KSCAA. If not wrong , a press release in this regard can be issued by KSCAA.
The CBDT, Tax Officials and others must first ascertain and confirm before making any statement in press and public regarding CA community. It is not that only and only chartered Accountants prepare returns of income but there are other professionals and non qualified persons who also prepare tax returns. Last year at Bhilai in Chhattisgarh state same thing happened and the CA community was blamed but the person was not a CA. For Penny Stock LTCG also at times CAs have been blamed. Whatever wrong is done by a tax payer the CA community is targeted by officials as also some times by ministers. The Institute must take it up with the Finance Minister strongly and ask the CBDT to take back derogatory remarks made against CAs in context with Bangalore Tax Refund Scam and other matters. If at all a CA is involved in some case then entire CA fraternity should not be blamed at any point of time.