Audit objections and settlement thereof

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..... s settled as soon as rectificatory action has been taken, without waiting till the collection of the additional demand ascribable to the audit objection. A large number of Revenue Audit objections are shown as pending even after rectificatory action because the collection of consequential additional demand is delayed due to either time having been allowed to the assessee for the payment of additio .....

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..... , but this is subject to the following conditions: (i) The P.A.C. (Fifth Lok Sabha) in para 2.79 of their 50th Report have recommended for issuing " suitable instructions to the Commissioners that where an audit objection has been accepted by the Department either at the Commissioner's level or at the Ministry's level, any order of Appeals preferred, if such contrary findings of the Appellate As .....

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..... ny other reason he feels that the attention of the Board/or of the Government /or of the Parliament has to be drawn to the irregularity. 3. The Board desire that the position as agreed to by the Revenue Audit and detailed above may be carefully followed hereafter and the pendency of Revenue Audit objections revised/dealt with accordingly; the above noted three conditions stipulated by the Revenu .....

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