Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2021 Year 2021 This

Special audit u/s 142(2A) - Period of limitation - reasons for ...


Special Audit u/s 142(2A) Misused: Validity Questioned Over Limitation Period and Accounting Method Changes.

November 8, 2021

Case Laws     Income Tax     AT

Special audit u/s 142(2A) - Period of limitation - reasons for change in accounting system - method of valuation of closing stock - AO does not point out a single complexity in the accounts of the assessee. - What is clearly evident is that the reference for special audit was merely made for obtaining certain explanation and information which were further required by the AO for the purposes of assessment of income of the assessee. In effect,the AO, was shifting his responsibility to the special auditor. This is surely not the purpose for which special audit can be referred to under law. - AT

View Source

 


 

You may also like:

  1. Special audit u/s 142(2A) - satisfaction - The question of complexity of accounts has to be judged applying the yardstick or test; whether the accounts would be complex...

  2. Special audit u/s 142(2A) - Scope of special audit has widen after amendment in Section 142(2A) w.e.f. 1.6.2013. The special audit can now be directed not only if the...

  3. Validity of assessment - Special audit u/s 142(2A) - period of limitation - Since the foundation is removed, the super structure i.e. the assessment order must fall.

  4. Validity of special audit of the accounts u/s 142(2A) - petitioner has not made any objection regarding procedure followed by the AO or by the Pr. CIT, in the entire...

  5. Validity of direction for special audit of accounts u/s 142(2A) - the AO is empowered to refer the accounts to the special auditor “at any stage of the proceedings” S.142(2A) - HC

  6. Special audit report u/s 142(2A) - An admitted fact on record that the AO had no occasion to examine the books of accounts furnished by the assessee, which were actually...

  7. Extension of period of special audit u/s 142(2A) - in the absence of suo motu powers of the Assessing Officer to extend the period of audit under section 142(2A) of the...

  8. Levying penalty u/s 272A(1)(d) - non-compliance of correspondences for special audit u/s 142(2A) - AO has written a letter to the Auditor for special audit of four case...

  9. Special audit u/s 142(2A) - AO Jurisdiction to give directions for a special audit - necessary approval of the Principal Commissioner of the Income Tax or not? - As per...

  10. Special audit u/s 142(2A) - Search and seizure - Time limitation - twin conditions of 'complexity of accounts' and 'the interests of the revenue' - order quashed - HC

  11. Special audit u/s 142(2A) – assessee has submitted copy of ledger account in 5 volumes but supporting vouchers of receipts and payment has not been submitted on the...

  12. Validity of special audit u/s 142(2A) - in the absence of show cause notice given before making the order proposing conduct of special audit, the proceedings are...

  13. Validity of special audit u/s 142(2A) - The Jharkhand High Court upheld the orders for a special audit of the petitioner’s accounts for the assessment years 2020-21 and...

  14. Special audit u/s 142(2A) - in the absence of pre-decisional hearing, the decision to have special audit was invalid and consequentially, all the proceedings conducted...

  15. Special audit u/s 142(2A) - there are complex issues relating to introduction of land by the partners into the firms; revaluation of land; credit of partners in capital...

 

Quick Updates:Latest Updates