Settlement commission have no jurisdiction to direct special audit: Delhi HC

Issue involved:- Whether the Income Tax Settlement Commission is empowered in law to direct a special audit under section 142(2A), in exercise of the power vested under Section 245F of the Income Tax Act, 1961? Importance: This is a nascent issue tested for the first time by any High Court in India with far reaching effects as regards the power to direct a special audit. It had been the stand of the Department that special audit u/s 142(2A) can be ordered by an Authority, other than the Assessing Officer. Negating the said contention, the Hon’ble Court adjudicated thereon vide present judgm...