Case Law Details
Case Name : CA V. Venkata Sivakumar Vs The Seretary, Institute Of Cost Accountants Of India & Ors. (Supreme Court of India)
Appeal Number : Petition(s) for Special Leave to Appeal (C) No(s). 4398-4399/2021
Date of Judgement/Order : 19/07/2021
Related Assessment Year :
Courts :
Supreme Court of India
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CA V. Venkata Sivakumar Vs. The Secretary, Institute Of Cost Accountants Of India
Use of acronym ICAI by Institute of Cost Accountants of India, Hon’ble Supreme Court disposed off the case filed by CA V. Venkata Sivakumar against Institute of Cost accountants in the first hearing itself.
Writ was filed by CA V. Venkata Sivakumar and he had made following the Party to the write-
1. The Secretary Institute Of Cost Accountants Of India
2. The Joint Secretary Union Of India Ministry Of Corporate Affairs
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Citizens (some) under article 19(1)(a) of the constitution know that the meaning of “Management Accounting” is same as “Cost Accounting” as per the Chambers 20th Century Dictionary at the page 764 which is correct technically. So, where lies the trouble for central Govt. to change the name clause?
Now, it becomes the duty of the Ministry of Corporate Affairs to change the name clause of the Institute of Cost Accountants of India as the Institute of Cost & Management Accountant of India or The Institute of Certified Management Accountant of India legally, constitutionally and technically for acronym of ICMAI and also to change the name clause of Institute of Chartered Accountants of India as the Institute of Accountants of India or The Institute of Certified Accountants of India in the like circumstances under the constitutional mandate in different counts . It is to be noted that past century practice of the existing ability now becomes a trite under article 14.Further, the straight jacket principle like the accountant definition of the Income tax Act can not be accepted as per law of Evidence.
The word “Chartered” does not describe the concern. In place of Chartered ,”Financial” do describe the concern ,for which CAs are known. Therefore ICAI must be for “The Institute of Cost Accountants of India” and IFAI for “The Institute of Financial Accountants of India” not ICAI.
I suggest Institute of Cost Accountant’s of India to use salutation Certified Accountant, with short form as CA.
It is the only solution.
This is not the solution , it needs IFAI in place of ICAI for CAs. They are known as financial accountants as well
Instead change the name to Institute of Cost and Management Accountants of India. The matter will be solved
why people feeling insecure. Instead they should make the qualified CAs more professional rather than just adjusting with the tax officers to close the cases . (not all , but most )
when entire system needs to change why find fault with cas
CA is still maintaining their quality.Why are you blaming others ? If you are genuine you need not adjust with anyone .
Who is not maintaining the quality? CMA or CS. No prejudiced comment