Validity of special audit u/s 142(2A) - The Jharkhand High Court ...

Special Audit of Accounts Upheld Despite Procedural Lapse; Court Grants Additional Time for Fair Process.

May 14, 2024

Case Laws Income Tax HC

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 2022-23. The court found that the discrepancies in the petitioner’s accounts justified the special audit and that the statutory requirements for ordering such an audit were met. While the court acknowledged a procedural lapse in providing insufficient time for the petitioner to respond, it held that this did not cause significant prejudice to warrant interference. The petitioner’s writ petitions were dismissed, with the court providing additional time for the audit and specific directions to ensure a fair audit process.

View Source

← Previous Next →

Validity of special audit u/s 142(2A) - The Jharkhand High Court ...

Special Audit of Accounts Upheld Despite Procedural Lapse; Court Grants Additional Time for Fair Process.

May 14, 2024

Case Laws Income Tax HC

You may also like:

Special audit u/s 142(2A) - Complexity and Volume of Transactions - Reasonable Opportunity to be Heard - Despite recognizing a breach of natural justice due to the...

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...

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...

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...

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...

Obsolete inventory written off in accordance with accounting standards and audited financial statements should be allowed as deduction. Coordinate Bench in BG...

Special audit u/s 142(2A) - complexity in the books of account - AO has carefully scrutinized the objections raised by the Petitioner and has fairly and objectively...

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...

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...

Fee payable to CA Firms, for Special Audits directed u/s 142(2A) - CA Firm registered as MSME - Recovery of fees due from the Income Tax Department invoking the...

Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

Penalty u/s 271B - assessee failed to get his account audited and furnish report u/s 44AB even after release of documents where were seized by the authorities - If the...

The assessee university's application for registration u/s 10(23C)(vi) was rejected due to non-submission of audited accounts and failure to provide necessary...

Special audit u/s. 142(2A) - Challenge on the ground that order is subjective satisfaction, is non-speaking and has been mechanically passed - The objection of...

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...

Quick Updates: