Goods and Services Tax : The article explains common GST audit objections relating to ITC, reverse charge liability, and turnover mismatches. It highlights...
Income Tax : The new Form 100 replaces outdated audit reporting formats to improve compliance and clarity. It standardizes reporting for specia...
Income Tax : The Petitioner contended some of the directions issued by the Respondent are bad in law because the Respondent has delegated upon ...
Income Tax : A) The rationale behind the introduction of the provision of Special Audit √ Assessee is liable to get its account audited u/s 4...
CA, CS, CMA : Background: Quality control is applied to achieve company’s vision to be a distinguished company. By maintaining a standard qual...
Goods and Services Tax : The Commissionerate seeks experienced audit firms to undertake statutory Special Audits covering turnover, ITC, tax payments and p...
CA, CS, CMA : Get details on the empanelment of Cost Accountants under Income-tax Act, 1961. Notice issued by the Principal Chief Commissioner o...
CA, CS, CMA : Income Tax Department invites C.A./C.A. Firms in Bihar & Jharkhand to apply for empanelment as Special Auditors. Eligibility, term...
CA, CS, CMA : Income-tax Department, Mumbai intends to invite application from reputed Chartered Accountant firms/propreitary concerns for empan...
CA, CS, CMA, Company Law : 1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the...
Goods and Services Tax : Delhi High Court sets aside special audit order against DHL Express India, citing lack of proper hearing. The ruling highlights ju...
Income Tax : Explore the Delhi High Court's ruling in PCIT vs. B.L. Kashyap. Learn why CIT cannot extend Section 142(2C) Audit report submissio...
Income Tax : SC held that order directing special audit under Section 142(2A) of Income Tax Act, 1961 is required to be communicated to appel...
Income Tax : Since AO had taken recourse to the provisions of section 142(2A) only with a view to extend the period of limitation by virtue of ...
Income Tax : India Yamaha Motor Private Limited Vs PCIT (Delhi High Court) Writ of India Yamaha Motor (P) Ltd., Hon’ble Delhi High Court ...
Income Tax : Income Tax Department Amritsar Central Revenue Building, Room No. 206, 1st Floor, Maqbool Rd, C Block, Amritsar, Punjab 143001 E-m...
The existing provisions contained in sub-section (2A) of section 142 of the Income-tax Act, inter alia, provide that if at any stage of the proceeding, the Assessing Officer having regard to the nature and complexity of the accounts of the assessee and the interests of the revenue, is of the opinion that it is necessary […]
We have referred to the aforesaid note in detail for two reasons. Firstly, the note reveals that the Assessing Officer felt that the case required detailed scrutiny or monitoring, verification of entries, which were substantial in number. Detailed scrutiny of large number of entries by itself, on standalone basis, will not amount to complexity of accounts.
The Service Tax Commissionerate, New Delhi proposes to draw a panel of auditors for conducting special audit under Section 14 AA of the Central Excise Act as made applicable to Service Tax matters by the Chartered Accountants and the Cost Accountants. Please find attached the scanned copy of the Notice for Expression of Interest issued for the purpose.
The Service Tax department proposes to order for conduct of special audit of Service Tax Assessees by the Chartered Accountant and Cost Accountants under Section 14AA of the Central Excise Act, 1944, as made applicable to Service Tax under Section 83 of the Finance Act, 1944. For this purpose, it is proposed to make a panel of CA/ICWAI who may be assigned the task of audit.
Telecom tribunal TDSAT has set aside a DoT directive that asked phone companies to submit their books for CAG audit, saying that it was arbitrary. The TDSAT bench, headed by its chairman Justice S B Sinha, set aside the directive on the grounds that
The income tax department has ordered a special audit of the accounts of Commonwealth Organising Committee after detecting multiple violations of procedures. A detailed analysis of books of accounts was required to ascertain the extent of non-compliance by the committee, a tax department official told to media.
“We are delighted with the special auditors’ validation that all payments and dues, including license fees and spectrum charges have been paid by TTSL, as per the license conditions and the applicable ruling of the telecom tribunal TDSAT,” the company’s Legal and Regulatory Affairs Head Madhav Joshi said.
The Reserve Bank of India (RBI) has ordered a special audit of the accounts of Bank of Rajasthan (BoR) following investigations into irregular dealings by the private sector bank. The regulator has appointed Deloitte Haskins & Sells to audit the bank’s lending policy among other things while the parent accounting and consulting firm Deloitte Touche Tohmatsu has been hired to audit the information security system of the bank.
Having heard learned counsel for the parties, we have perused the impugned order and the material available on record. The apex Court, in the case of Rajesh Kumar v .Dy. Commissioner of Income Tax reported in (2006)287 ITR 91 while considering the scope of Section 142(2A)of the Act
The auditor for Bharti Airtel has asked for more time from the department of telecommunications (DoT) to finalise the special report sought by the government on the company, as they have yet to fully get the needed information. Contractor, Nayak & Kishnadwada, the chosen audit agency, has told DoT in a letter that Bharti has started providing some of the pending information, which is being verified.
