Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Professional Misconduct - Chartered Accountant (CA) - Significant failures to adhere to Standards on Auditing (SAs), gross negligence, and lack of professional skepticism - Non-recognition of full interest cost on borrowings classified as Non-Performing Assets (NPAs) - material misstatement in the financial statements - The NFRA, after careful consideration of the submissions and evidence, found the CA guilty of professional misconduct as defined under the Companies Act, 2013, and the applicable standards. Consequently, the authority imposed a monetary penalty of Rs 3,00,000 and debarred CA Rathi for 2 years.
Professional Misconduct - Chartered Accountant (CA) - Significant failures to adhere to Standards on Auditing (SAs), gross negligence, and lack of professional skepticism - Non-recognition of full interest cost on borrowings classified as Non-Performing Assets (NPAs) - material misstatement in the financial statements - The NFRA, after careful consideration of the submissions and evidence, found the CA guilty of professional misconduct as defined under the Companies Act, 2013, and the applicable standards. Consequently, the authority imposed a monetary penalty of Rs 3,00,000 and debarred CA Rathi for 2 years.
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