Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Audit and inventory valuation expenses must follow panel, hourly billing, time-sheet, and report-quality safeguards under tax rules. Prescribes guidelines for determining the expenses of audit and inventory valuation directed under section 142(2A). Chief Commissioners must maintain panels of accountants and cost accountants, and the expenses, including remuneration of assisting staff, must fall within the prescribed hourly range for the period fixed in hours for completion of the report. The accountant or cost accountant must maintain a time-sheet and submit it with the bill, and the claimed hours must be commensurate with the size and quality of the report.
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.
Audit and inventory valuation expenses must follow panel, hourly billing, time-sheet, and report-quality safeguards under tax rules.
Prescribes guidelines for determining the expenses of audit and inventory valuation directed under section 142(2A). Chief Commissioners must maintain panels of accountants and cost accountants, and the expenses, including remuneration of assisting staff, must fall within the prescribed hourly range for the period fixed in hours for completion of the report. The accountant or cost accountant must maintain a time-sheet and submit it with the bill, and the claimed hours must be commensurate with the size and quality of the report.
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