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TMI Blog2015 (11) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... not shut its eyes when it is noticed that certain developments occurring in the Country may affect the Country as a whole, more particularly when the reputation of particular profession, from whom the Tribunal is getting assistance in the dispensation of justice, is at stake. Accordingly, we sincerely believe that it is the bounden duty of not only the Tribunal, but also the duty of one and all to point out and discuss about such kind of developments, when it is noticed that the same may affect the public at large. There cannot be any controversy that the interest of our Country is Supreme and no citizen can or should compromise on the same. We may clarify here that the observations were made by the Tribunal in the impugned order in that co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Accountant Member: The Institute of Chartered Accountants of India (ICAI) has filed this miscellaneous application with the submissions that some of the observations made by the Tribunal in its order dated 20th August, 2014 rendered in the case of Shri Vijay V Meghani in ITA No.5418/Mum/2011 has resulted in a mistake apparent from record and hence the same needs rectification u/s 254(2) of the Act. 2. The Ld Counsel appearing for ICAI has submitted that the Tribunal has made certain observations about the Chartered Accountancy (C.A.) profession, the conduct of some of the students pursuing the C.A courses and also about ICAI in the impugned order. The Ld Counsel submitted that the issues urged by the appellant Shri Vijay V Meghani i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y kindly be deleted. He submitted that the removal of paragraph 9.6 of the order would not affect the coherence or continuity of the order. 4. When it was pointed out that the ICAI was not a party to the appeal and accordingly when it was questioned about the competency of the ICAI to file this miscellaneous application, the Ld Counsel submitted that the Tribunal has inherent powers to rectify its own orders and since these observations have been made without hearing the ICAI, the Tribunal may rectify the order by using its inherent power. 5. The Ld D. R submitted that the present miscellaneous application has been filed u/s 254(2) of the Act and the Tribunal, under the provisions of sec. 254(2) of the Act, does not have power to revi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal has only applauded the strict standards followed by ICAI in imparting the education and training. 7. It may be noticed that the paragraph 9.6 of the order, which is considered by the ICAI to be offensive, starts with the expression However, if it is considered for a moment .. Thus, it can be noticed that the Tribunal has considered a hypothetical situation and made further observations about the possible consequences, if the said hypothetical situation had been a reality. Hence, it would not be correct to interpret that the Tribunal has commented upon that the standards of C.A profession or the ICAI. The observations made by the Tribunal in the later part of paragraph 9.6 was intended to highlight or reiterate the importance o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tudents to become thorough professionals with versatile knowledge and innovative mind. The practical training given by the practicing Chartered Accountants during the articled clerk period, in our view, is the fulcrum centre of the study module of the C.A course and the students pursuing the C.A course should and must utilize the opportunities provided to them or encountered by them during the articled clerk training period to the maximum possible extent. In the recent past, a number of Coaching institutes have been established to give coaching to the students pursuing C.A course. While the self study model and articled clerk training may be supplemented with the coaching given by such institutes, any compromise on the practical training in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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