Direction to conduct tax audit allows officer to require accountant audited accounts with Commissioner approval and recoverable costs. The amendment authorises the Income-tax Officer, with the Commissioner's prior approval, to direct an assessee to obtain an audit of accounts by an ... Summary
Direction to conduct tax audit allows officer to require accountant audited accounts with Commissioner approval and recoverable costs.
The amendment authorises the Income-tax Officer, with the Commissioner's prior approval, to direct an assessee to obtain an audit of accounts by an accountant nominated by the Commissioner and to furnish a prescribed signed and verified audit report; the direction applies notwithstanding any other audit, the report must be furnished within a period specified (extendable but not beyond an aggregate of one hundred and eighty days), and the Commissioner shall determine audit expenses which are payable by the assessee and recoverable as tax arrears.
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