Special audit power requires registered persons to obtain nominated accountant audits, enabling detection of undeclared value or improper credits. Special audit allows an officer not below Assistant Commissioner, with Commissioner approval, to direct a registered person to have records audited by a chartered or cost accountant nominated by the Commissioner. The nominated accountant must submit a signed, certified report within ninety days, with a possible single extension. The Commissioner determines and pays audit expenses and remuneration. The registered person is entitled to an opportunity of being heard before material from the audit is used in proceedings. Detection of unpaid or short paid tax, erroneous refund or wrongly availed input tax credit may lead to initiation of action under section 73 or section 74.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special audit power requires registered persons to obtain nominated accountant audits, enabling detection of undeclared value or improper credits.
Special audit allows an officer not below Assistant Commissioner, with Commissioner approval, to direct a registered person to have records audited by a chartered or cost accountant nominated by the Commissioner. The nominated accountant must submit a signed, certified report within ninety days, with a possible single extension. The Commissioner determines and pays audit expenses and remuneration. The registered person is entitled to an opportunity of being heard before material from the audit is used in proceedings. Detection of unpaid or short paid tax, erroneous refund or wrongly availed input tax credit may lead to initiation of action under section 73 or section 74.
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