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of <h1>New Circular Simplifies Revenue Audit Procedures, Outlines Tax Authorities' Responsibilities, and Emphasizes Officer Accountability.</h1> The circular streamlines the audit procedures for revenue audits by consolidating previous instructions into a comprehensive directive. It outlines the responsibilities of various tax authorities, including the Commissioners of Income Tax (CIT), in managing audit objections, ensuring accountability, and taking remedial actions. The procedure mandates timely cooperation with the Revenue Audit Party, maintaining accurate records, and addressing audit objections promptly. It emphasizes the need for accountability among officers and staff, detailing steps for disciplinary action in cases of negligence or errors. The circular also specifies the process for handling audit objections, including filing appeals and preparing reports for the Comptroller and Auditor General (C&AG) of India.
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