Search Results for Tag : audit
Judgments
Audit report can be filed even at the appellate stage(02.03.2023)
The assessee is a trust, which had filed its return of income for the relevant assessment year year. However, when the return of income was filed, the.....
Tags : Audit report, Assessment, Return
International Cases
Only forum in which a taxpayer may dispute or object to a decision of an assessment, including additional assessments, is the tax court, unless the high court directs otherwise(24.03.2023)
The Respondent, the Commissioner for the South African Revenue Services (SARS), issued a letter to the appellant, United Manganese of Kalahari (Pty) L.....
Tags : Audit, Assessment, Objections
Top Story
Income Tax Department validates Unique Document Identification Number generated from ICAI portal for Tax Audit Reports(26.11.2020)
In continuation with the ongoing initiatives of the Income Tax Department for integrating with other Government agencies, Income-tax e-filing portal h.....
Tags : Validation, UDIN, Tax Audit
News
DIRECT TAXATION - Delay in Statutory Audit is Reasonable Cause for Delayed Filing of Tax Audit Report: ITAT(27.03.2019)
Income Tax Appellate Tribunal (ITAT) has held that the delay in completion of statutory audit can be a reasonable cause for delay in filing of the tax.....
Tags : Income Tax Appellate Tribunal, ITAT, statutory audit, tax audit report
Delhi High Court Orders Audit of Private School(17.02.2020)
Delhi High Court has ordered an audit and inspection of a school on Government land in Chanakyapuri, on the allegations that the private school was ig.....
Tags : Delhi High Court, Audit of Private School
Madras HC: Appointment of Independent Directors in Social Audit of MGNREGA is Must(18.02.2020)
Madras High Court has directed the State of Tamil Nadu to issue fresh Government Order prescribing the qualifications for the appointment of independe.....
Tags : Madras High Court, Appointment of Independent Directors in Social Audit
Tamil Nadu Govt. Extends Time Limit for Furnishing VAT Audit Report in Electronic Form for FY 2020-21(03.01.2022)
Tamil Nadu Government has notified the extension of the time limit for Furnishing VAT Audit Report in electronic form for financial year 2020-21 till .....
Tags : Tamil Nadu Government, Time Limit for Furnishing VAT Audit Report
Central Board of Direct Taxes Extends Due Date of Income Tax Audit Reports(12.01.2022)
Central Board of Direct Taxes (CBDT) has notified the extension of the timeline for filing Income Tax Returns and Various reports of audit for the AY .....
Tags : Central Board of Direct Taxes, Due Date of Income Tax Audit Reports
Gujarat HC Issues Notice on Plea Seeking Physical Filing of ITR, Audit Reports(13.01.2022)
Gujarat High Court has issued notice to the Central Government on a plea seeking waiver of interest under section 234A of Income Tax Act, 1961 and als.....
Tags : Gujarat High Court, Physical Filing of ITR, Audit Reports
MCA Relaxes Norms on Auditors Term for Pvt Cos With Paid Up Share Capital of 50 Crores(23.06.2017)
Ministry of Corporate Affairs has notified amendment to Companies (Audit and Auditors) Rules, 2014 wherein it amended Auditors’ rules with respect to .....
Tags : Ministry of Corporate Affairs, Companies (Audit and Auditors) Rules
ITAT, Mumbai: No Penalty If Non-Furnishing of Tax Audit Report was Due to Bona Fide Reasons(18.03.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the penalty under Section 271B of the Income Tax Act, 1961 is not leviable if there are bon.....
Tags : Income Tax Appellate Tribunal, Non-furnishing of Tax Audit Report
CBDT Extends Deadline for Uploading UDIN for Audit Forms/Audit Certificates(05.04.2021)
Central Board of Direct Taxes (CBDT) has extended the deadline for uploading of UDIN for Audit Forms / Audit certificates till 30th April, 2021. The U.....
Tags : Central Board of Direct Taxes, Uploading UDIN for Audit Forms/Audit Certificates
CESTAT: Objection of Audit Cannot be Basis for Determining Duty Liability(18.12.2020)
Customs, Excise, Service Taxes Appellate Tribunal (CESTAT) has held that objection of audit cannot be the basis for determining duty liability, in abs.....
Tags : Customs, Excise, Service Taxes Appellate Tribunal, Objection of Audit
CBIC Notifies New Customs Audit Regulations, Rs. 50,000 Fine in Case of Default(29.05.2018)
Central Board of Indirect Taxes and Customs (CBIC) has notified the Customs Audit Regulations, 2018 wherein the scope of ‘audit’ and the selection on .....
Tags : Customs, Audit Regulations
Business Having Above 2 Crore Turnover Can File GST Audit Reports: GST Council(16.04.2019)
Taxpayers under Goods and Services Tax (GST) with annual turnover of over Rs 2 crore can now start filing GST audit reports for financial year 2017-18.....
Tags : GST, Audit Reports, Turnover
Notifications & Circulars
Committee of Experts submits its report on Regulating audit firms and the Networks(31.10.2018)
The Committee of Experts has submitted its report on Regulating audit firms and the Networks to the Government of India through the Secretary, Ministr.....
Tags : Report, Audit firms, Regulations
Madras High Court Issues Notice to Kanchi Sankaracharya in the Auditor Assault Case(18.07.2016)
Madras High Court has issued a notice to Kanchi Sankaracharya Sri Jayendra Saraswathi and eight others in the14-year-old assault case pending against.....
Tags : Madras High Court, Kanchi Sankaracharya, Auditior Assault
Delhi HC Orders CAG Audit on Tree Felling Since 2010(17.03.2017)
Delhi High Court has asked Comptroller and Auditor General (CAG) to conduct an audit into number of trees felled here for various projects and disposa.....
Tags : Delhi High Court, Comptroller and Auditor General, Audit
NCLAT: Auditor Cannot be Debarred for 5 Years in Absence of Evidence(26.02.2020)
National Company Law Appellate Tribunal has set aside an order passed by National Company Law Tribunal in a matter relating to debarring of an auditor.....
Tags : National Company Law Appellate Tribunal, Debarring of Auditor
AO has Power to Extend Time Limit for Filing Auditor’s Report: Supreme Court(05.04.2019)
Supreme Court has held that Assessing Officer who prescribes time limit for filing auditor’s report under Section 142(2A) of the Income Tax Act is als.....
Tags : Supreme Court, Assessing Officer, Auditor's Report
Bombay HC Quashes Prosecution of 2 Former IFIN Auditors(22.04.2020)
Bombay High Court has quashed the prosecution of BSR Associates and Deloitte Haskins & Sells, auditors of the crisis-ridden IL&FS Financial Services (.....
Tags : Bombay High Court, Prosecution of 2 Former IFIN Auditors
ICAI Rule Limiting Number of Tax Audits by Chartered Accountants Every Year Upheld by Supreme Court(17.05.2024)
Supreme Court has upheld the rule that has been issued by the Institute of Chartered Accountants of India (ICAI) that bars Chartered Accountants from .....
Tags : Supreme Court, Chartered Accountants, Tax Audit Assignments
Draft Reporting System on Accounting Separation Regulations, 2016(22.02.2016)
The Telecom Regulatory Authority of India released draft ‘(06.02.2023)
1. The Performance Audit Report No. 14 of 2022 "Sabka Vishwas (Legacy Dispute Resolution) Scheme (SVLDRS) 2019" of C&AG of India (Indirect Taxes-GST, .....
Tags : Performance, Audit Report, Sabka Vishwas Scheme
Enforcement action in respect of statutory auditors of commercial banks(03.06.2019)
RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the.....
Tags : Statutory auditors, Commercial banks, Enforcement action
Del HC: MSMED Act Not Applicable to CA Firms Appointed as Special Auditors(10.07.2023)
Delhi High Court has held that MSMED Act, 2006 is not applicable to a CA firm appointed as ‘Special Auditor’ under Section 142(2A) of the Income Tax A.....
Tags : Delhi High Court, MSMED Act, Special Auditor, Income-Tax
Supreme Court Asks Election Commission, ‘By When Will You Introduce Paper Trail in EVMs’(06.01.2017)
Supreme Court has asked Election Commission to spell out time frame within which it would introduce Voter Verifiable Paper Audit Trail (VVPAT) in EVMs.....
Tags : Supreme Court, Election Commission, Voter Verifiable Paper Audit Trail
Del. HC to Centre: Maintain Highest Standards of Safety and Security at Railway Stations(27.07.2023)
Delhi High Court has directed Union government to ensure that there is a periodic audit and maintenance of highest standards of safety and security at.....
Tags : Delhi High Court, Railway Stations, Audit, Safety
Delhi HC Orders Release of 410 VVPAT Machines For Use in Assembly Polls(08.02.2017)
Delhi High Court has allowed AAP Government's plea seeking release of 410 Voter Verified Paper Audit Trail (VVPAT) machines, which were earlier ordere.....
Tags : Delhi High Court, Voter Verified Paper Audit, AAP
Calcutta High Court Orders CAG Audit of Amphan Relief(02.12.2020)
Calcutta High Court has directed the Comptroller and Auditor General (CAG) of India to audit Amphan Cyclone related relief, amid allegations of irregu.....
Tags : Calcutta High Court, Audit of Amphan Relief
MCA Extends Last Date of Filing of Cost Audit Report to Board of Directors(28.09.2021)
Ministry of Corporate Affairs (MCA) has extended the last date of filing of the Cost Audit Report to the Board of Directors under Rule 6(5) of the Com.....
Tags : Ministry of Corporate Affairs, Last Date of Filing of Cost Audit Report
NGT Orders Environment Audit of All Government Buildings in Delhi(24.11.2016)
National Green Tribunal (NGT) has ordered environment audit of all Government Buildings, including offices and hospitals, in Delhi to control pollutio.....
Tags : National Green Tribunal, Government Buildings, environment audit
RBI prescribes format for SAC to be submitted by NBFCs(23.06.2016)
The Reserve Bank of India introduced a uniform format for the statutory auditor certificate. Non-Banking Financial Corporations will need to fill out .....
Tags : Statutory auditor, certificate, nbfi
Extension of timeline for finalization of audited accounts(06.07.2020)
1. Please refer to para 18(2) of the Master Direction on Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) D.....
Tags : Extension, Timeline, Audited accounts
TRAI conducted an Open House Discussion (OHD) on Consultation Paper on "Empanelment of Auditors for Digital Addressable Systems"(18.04.2018)
The Telecom Regulatory Authority of India (TRAI) convened an Open House Discussion (OHD) on Consultation Paper on "Empanelment of Auditors for Digital.....
Tags : Discussion, Empanelment, Auditors
Delhi High Court Upholds Power to Conduct Service Tax Audit(04.11.2020)
Delhi High Court held that Section 174(2) (e) of the Central Goods and Services Tax Act, 2017 specifically empowers the authorities to institute any i.....
Tags : Delhi High Court, Service Tax Audit
Bom. HC Constitutes Committee to Conduct Social Audit of 30 Maternity Homes Run by BMC(30.01.2025)
Bombay High Court after considering the concerns over lack of amenities in civic-run maternity homes across Mumbai, has directed the constitution of a.....
Tags : Bombay High Court, Maternity Homes, Social Audit
Del. HC Upholds Validity of Section 132 of the Companies Act, 2013(10.02.2025)
Delhi High Court while hearing pleas of various Chartered Accountants as well as auditing firms, has upheld the constitutional validity of Section 13.....
Tags : Delhi High Court, Chartered Accountants, Auditing Firms
Govt Extends Deadline for Income Tax Audit & Return Filing to Nov 7(01.11.2017)
Central Government has declared that due date for tax audit and return filing under the provisions of Income Tax Act is extended to November 7th. Earl.....
Tags : Government, Income Tax Audit
SEBI Issues Stricter Norms for Auditors Amid Series of Exits(21.10.2019)
Securities and Exchange Board of India has observed that the auditors of listed companies will have to issue a limited review or audit report if they .....
Tags : SEBI, Auditors
INSOLVENCY - 51% COC Vote Enough for Forensic Audit of Corporate Debtor: NCLT(08.03.2019)
National Company Law Tribunal (NCLT) has clarified that 51 per cent vote of the Committee of Creditors (CoC) is enough to initiate a forensic audit of.....
Tags : NCLT, Forensic Audit, Corporate Debtor
NCLAT: Audit Report Alone Not Enough to Prove Fraud in Commercial Deal Under Section 66(2) IBC(29.09.2025)
NCLAT, Principal Bench, New Delhi, held that a transactional audit report alone cannot serve as conclusive proof of fraudulent trading under Section 6.....
Tags : Audit Report, Commercial Deal, Fraud
DGCA and USTDA sign agreement for aviation safety and technical assistance(09.02.2016)
The Directorate General of Civil Aviation of India and the United States Technical Development Agency signed the Grant Agreement for India Aviation Sa.....
Tags : Civil aviation, safety, audit, agreement
Order under section 119 of the Income-tax Act, 1961(09.10.2023)
1. Audit report in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical inst.....
Tags : Audit report, Furnishing, Form
Gujarat HC Directs CBDT to Extend ITR Filing Deadline to Nov 30 for Audit Assesses(14.10.2025)
Gujarat High Court directed the Central Board of Direct Taxes (CBDT) to extend the due date for filing income tax returns to November 30 for assesses .....
Tags : Central Board of Direct Taxes, Income Tax Returns, Audit Report
Government Amends Companies (Audit and Auditors) Rules, 2014(20.02.2018)
Government has amended Companies (Audit and Auditors) Rules, 2014 wherein Forms ADT-1 which provides for notice to RoC by the company for appointment .....
Tags : Companies, Audit, Auditors
Supreme Court Asks Centre to Curb Illegal Operations of Multinational Auditors(26.02.2018)
Supreme Court has taken a serious note of alleged illegal operations of multi-national accounting firms in India in collaboration with Indian charted .....
Tags : Supreme Court, Auditors
NCLT Ahmedabad: Complaints Against Auditors or Company Secretaries Not Grounds for Company Probe(11.12.2025)
NCLT Ahmedabad held that complaints of professional misconduct against auditors or company secretaries cannot justify an SFIO investigation under Sect.....
Tags : Complaints, Auditors, Company Secretaries
Del. HC to Authorities: Conduct Structural Audit of Buildings to Check Stability During Earthquakes(06.12.2023)
Delhi High Court has directed the city authorities to conduct a structural audit of buildings of all hospitals, schools and colleges in the national c.....
Tags : Delhi High Court, structural audit, earthquakes
NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required(24.12.2025)
Chennai bench of the NCLAT held that the NCLT has the authority to order a forensic audit on its own initiative, even when no separate application has.....
Tags : Forensic Audit, Application, Order
Annual Report of Telecom Regulatory Authority of India for the year 2017-2018(21.02.2019)
The Annual Report of Telecom Regulatory Authority of India for the year 2017-18 detailing activities of the Authority, certified accounts and the audi.....
Tags : Annual Report, TRAI, Accounts, Audit report
CAG of India signs 11 UN Audit reports(28.07.2016)
Comptroller & Auditor General of India, is currently in New York to attend the 70thRegular Session of the United Nations' Board of Auditors, held at t.....
Tags : UN audit reports, Board, Approval
Calcutta HC: Banks Must Provide Forensic Audit Report Before Calling an Account Fraudulent(11.02.2026)
Calcutta HC held that a bank cannot classify a borrower’s account as “fraud” without first providing the forensic audit report and documents relied up.....
Tags : Banks, Forensic Audit Report, Fraudulent
Income Tax Appellate Tribunal, Bangalore: Delay in Furnishing Audit Reports is Mere Technical Breach(09.01.2020)
Income Tax Appellate Tribunal, Bangalore has held that the delay in furnishing audit reports results only in the technical venial breach which does no.....
Tags : Income Tax Appellate Tribunal, Audit Reports
ITAT Hyderabad: Return by Govt Agency Can't be Rejected For Not Furnishing Audit Report(09.06.2017)
Income Tax Appellate Tribunal (ITAT), Hyderabad has held that income tax return filed by a Government agency cannot be rejected by authorities merely .....
Tags : Income Tax Appellate Tribunal, Audit Report
SC: No Occasion for CAG Audit of PM CARES Fund as It is a Public Charitable Trust(19.08.2020)
Supreme Court has observed that there is no occasion for audit of Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund by the C.....
Tags : Supreme Court, Audit of PM CARES Fund
States Resisting Social Audits by NCPCR Appear to be “Hiding Something”: Supreme Court(13.07.2018)
Supreme Court has noted with concern the fact that a large number of States have not permitted National Commission for Protection of Child Rights (NCP.....
Tags : Supreme Court, Social Audits