Income Tax - Highlights / Catch Notes

Special audit u/s 142(2A) - Complexity and Volume of ...

Court Balances Audit Scope and Revenue Interests; Extends Deadline Despite Breach of Natural Justice in Audit Process.

May 15, 2024

Case Laws Income Tax HC

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 insufficient response time, the High Court ruled that this breach did not cause substantial prejudice to the petitioner. The court emphasized the importance of a prima facie assessment for special audits and supported the Assessing Officer's discretion in such matters. Consequently, the court extended the audit report submission deadline and limited the audit scope, ensuring the petitioner's rights were protected while upholding the Revenue's interests.

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Special audit u/s 142(2A) - Complexity and Volume of ...

Court Balances Audit Scope and Revenue Interests; Extends Deadline Despite Breach of Natural Justice in Audit Process.

May 15, 2024

Case Laws Income Tax HC

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