Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate with the NFRA's investigation by not providing the requested information and by submitting false statements. The authority imposed a monetary penalty of fifty lakhs INR on the audit firm and thirty lakhs INR on the engagement partner. Furthermore, they were barred from being appointed as auditors or undertaking any audits related to financial statements or internal audit functions of any company or body corporate for two and ten years, respectively.
Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate with the NFRA's investigation by not providing the requested information and by submitting false statements. The authority imposed a monetary penalty of fifty lakhs INR on the audit firm and thirty lakhs INR on the engagement partner. Furthermore, they were barred from being appointed as auditors or undertaking any audits related to financial statements or internal audit functions of any company or body corporate for two and ten years, respectively.
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