professional misconduct

Professional Ethics / Misconduct In Relation to CA In Practice

Income Tax - Professional ethics encompass the personal, organizational, and corporate standards of behavior expected by In simple words we can say that professional conduct of an individual. ...

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No immunity can be granted to ICAI members for Professional misconduct

Income Tax - The Supreme Court on Wednesday ruled that no immunity from prosecution can be granted to the members or nonmembers of the Institute of Chartered Accountants of India for their professional misconduct under the provisions of the Chartered Accountants ...

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ICAI found two GTB auditors guilty of professional misconduct

Income Tax - Accounting regulator the Institute of Chartered Accountants of India (ICAI) today said it has found two auditors guilty of professional misconduct in the Global Trust Bank (GTB) scandal. A final notice would be soon sent to S Gopalakrishnan, facing trial in Satyam scam case, before pronouncing him guilty in the GTB scam, the ICAI said in ...

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Coaching classes for CA students not permissible between 9.30 a.m. and 5.30 p.m

Income Tax - Attention of the members is drawn to Announcements dated 27th March 2009 and 19th May 2009 hosted on website of the Institute wherein the decision of the Council with regard to, inter-alia, working hours and coaching hours have been notified. Normal working hours for the articled assistants shall not start after 11.00 AM and not end befo...

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MCA asked ICAI to seek information from the foreign firms operating in India

Income Tax - The government has sought clarity from auditing firm PriceWaterhouseCoopers (PWC) about their operations and business plans in India. “Come back with a plan. What is that you are responsible for? What is that you should be responsible for?” Corporate Affairs Minister Salman Khurshid told PTI while replying to questions about his meeti...

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ICAI wants power to take action against erring audit firms

Income Tax - "As per the Act, the institute can take disciplinary action against our members but not against other firms. It is becoming extremely important to curb ill practises. So, for the first time, the ICAI has decided to recommend the Union government that...

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ICAI Publishes List of Members held Guilty of professional and/or other misconduct

Income Tax - List of cases as on 5th May, 2010 where (I) members of the Institute had been found guilty by the Council of the Institute under Section 21 read with Section 22 of the Chartered Accountants Act, 1949 (pre-amended) and the same had also been confirmed by the High Courts concerned and (II) members who had been found guilty and accordingly r...

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ICAI found two GTB auditors guilty of professional misconduct

Income Tax - Accounting regulator the Institute of Chartered Accountants of India (ICAI) today said it has found two auditors guilty of professional misconduct in the Global Trust Bank (GTB) scandal. A final notice would be soon sent to S Gopalakrishnan, facing trial in Satyam scam case, before pronouncing him guilty in the GTB scam, the ICAI said in ...

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Coaching classes for CA students not permissible between 9.30 a.m. and 5.30 p.m

Income Tax - Attention of the members is drawn to Announcements dated 27th March 2009 and 19th May 2009 hosted on website of the Institute wherein the decision of the Council with regard to, inter-alia, working hours and coaching hours have been notified. Normal working hours for the articled assistants shall not start after 11.00 AM and not end befo...

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MCA asked ICAI to seek information from the foreign firms operating in India

Income Tax - The government has sought clarity from auditing firm PriceWaterhouseCoopers (PWC) about their operations and business plans in India. “Come back with a plan. What is that you are responsible for? What is that you should be responsible for?” Corporate Affairs Minister Salman Khurshid told PTI while replying to questions about his meeti...

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Prosecution under PMLA cannot be dropped for Acquittal by ICAI Disciplinary Committee

Mahesh Agarwalla Vs Assistant Director, (Calcutta High Court) - The findings of the Disciplinary Committee by no stretch of imagination can be said to be binding on the criminal court where the accusation is to be proved on the basis of evidence adduced before it in accordance with law. Moreover, the findings do not render the substratum of accusation of conspir...

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CA guilty of misconduct for allowing use of his name in Prospectus despite Resignation

TChartered Accountants Act, 1949 & 2 Ors Vs. CA. Satish Kumar Gupta (Allahabad High Court) - Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the pub...

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SC quashes appeal against CA for issue of alleged wrong certificate based on manipulated figures

ICAI Vs M.S. Rathi Civil Appeal (Supreme Court of India) - The present appeal arises out of the order dated 12.08.2004 passed by the Division Bench of the High Court of Judicature at Bombay in Chartered Accountants Reference No. 5/2000....

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CA guilty of Professional Misconduct for giving forged challan copies

Council of the Institute of Chartered Accountants of India Vs Shri D.K.Agrawal (Allahabad High Court) - This Reference, under Section 21 (5) of Chartered Accountants Act, 1949 (hereinafter referred to as “Act, 1949”), has been received in this Court, sent by Council of Institute of Chartered Accountants of India (hereinafter referred to as “ICAI”) in the matter of D.K.Agrawal, FCA of M/s Dines...

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HC bans CA for issuing wrong Share Application Money Certificate

Council of ICAI Vs kailash Chander Agarwal & ANR. (Delhi High Court) - Proceeding to take cognizance of a report submitted by SEBI the Council of the Institute of Chartered Accountants constituted a Disciplinary Committee, forming a prima-facie opinion that the respondent was guilty of professional misconduct. Proceedings were initiated by the Disciplinary Committee. ...

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ICAI takes action against 4 Members for Misconduct

Notification No. DD/141/11/BOD/144/2013, DD/3/S/INF/11/DC/232/2012 , DD/174/10/DC/320/2014, No. DD/70/09/DC/127/2010 and DD/73/09/DC/128/2010 - (06/06/2016) - ICAI has vide its Notifications dated 06th June 2016 notified the action taken for Professional and Other Misconduct rules against Ms. Sunita Shamsunder Narang (Membership No. 046574), Shri N. Sundararajan (Membership No. 021341),Shri D. Sundararajan (Membership No. 010150) and Shri Mahendra Kumar H...

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Recent Posts in "professional misconduct"

Prosecution under PMLA cannot be dropped for Acquittal by ICAI Disciplinary Committee

Mahesh Agarwalla Vs Assistant Director, (Calcutta High Court)

The findings of the Disciplinary Committee by no stretch of imagination can be said to be binding on the criminal court where the accusation is to be proved on the basis of evidence adduced before it in accordance with law. Moreover, the findings do not render the substratum of accusation of conspiracy between the petitioner and the other...

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CA guilty of misconduct for allowing use of his name in Prospectus despite Resignation

TChartered Accountants Act, 1949 & 2 Ors Vs. CA. Satish Kumar Gupta (Allahabad High Court)

Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the public issue, his name could not have appea...

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Professional Ethics / Misconduct In Relation to CA In Practice

Professional ethics encompass the personal, organizational, and corporate standards of behavior expected by In simple words we can say that professional conduct of an individual. ...

Read More
Posted Under: Income Tax |

SC quashes appeal against CA for issue of alleged wrong certificate based on manipulated figures

ICAI Vs M.S. Rathi Civil Appeal (Supreme Court of India)

The present appeal arises out of the order dated 12.08.2004 passed by the Division Bench of the High Court of Judicature at Bombay in Chartered Accountants Reference No. 5/2000....

Read More

CA guilty of Professional Misconduct for giving forged challan copies

Council of the Institute of Chartered Accountants of India Vs Shri D.K.Agrawal (Allahabad High Court)

This Reference, under Section 21 (5) of Chartered Accountants Act, 1949 (hereinafter referred to as “Act, 1949”), has been received in this Court, sent by Council of Institute of Chartered Accountants of India (hereinafter referred to as “ICAI”) in the matter of D.K.Agrawal, FCA of M/s Dinesh K. Agrawal & Co., Chartered Accountant...

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HC bans CA for issuing wrong Share Application Money Certificate

Council of ICAI Vs kailash Chander Agarwal & ANR. (Delhi High Court)

Proceeding to take cognizance of a report submitted by SEBI the Council of the Institute of Chartered Accountants constituted a Disciplinary Committee, forming a prima-facie opinion that the respondent was guilty of professional misconduct. Proceedings were initiated by the Disciplinary Committee. ...

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CA in practice cannot run Business via Companies, Trusts & Firms

Council of Instt. of Chartered Accountants of India Vs Subodh Gupta & anr. (Delhi High Court)

The Institute of Chartered Accountants has made the instant Reference under Section 21(5) of the Chartered Accountants Act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-Section (4) of Section 21....

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PIL by a lawyer to gain popularity is violation of Code of Conduct

S. Baskar Mathuram Vs The State of Tamil Nadu (Madras High Court)

We take this opportunity to remind the State Government to put in place a policy decision to ensure that the Print and Electronic Media does not while reporting instances of similar nature from furnishing any details which are capable of enabling the readers or general public to come to know of the identity of either the victims or those...

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Failure of CA to investigate transactions in depth is gross negligence in performing professional duties

Delhi HC held that a Chartered Accountant while doing concurrent audit is expected to check the transactions falling within the scope of audit in depth. Thus, non-checking of the same would be gross negligence on his part while performing professional duties.Accordingly, he is liable to face the charge of professional misconduct under cla...

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Threatening letter to initiate legal proceedings if dues not paid is professional misconduct

Council of the Institute of Chartered Accountants of India (ICAI) vs. Mahesh Kumar Gupta (Delhi High Court)

Delhi HC held that threating letter issued by professional with reminder of unpaid professional dues is unethical conduct which is not expected by members of a civil society to be committed by a professional like that of Chartered Accountant who is looked upon by the society as a dignified professional....

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