Summary of Delhi HC Judgement in Chamber of tax Consultants Vs. UOI

THE CHAMBER OF TAX CONSULTANTS & ANR. V. UOI & ANR. (Delhi High Court)

Brief Facts of the Case

• Vide notification No. 87/ 2016 dated September 29, 2016 Central Board of Direct Taxes (“CBDT”) (“Respondents”) had notified ten Income Computation and Disclosure Standards (“ICDS”) to be adopted by the taxpayers having income under the head “Profits and Gain from Business or Profession” and “Other Sources” and following mercantile system of accounting.
• Vide Notification No. 88/ 2016 of same dated, CBDT also notified certain changes Tax Audit Report in Form 3CD. Circular no. 10/ 2017 dated March 23, 2017 was also issued wherein CBDT issued clarifications to the ICDS.

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