Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Professional misconduct - Debarment from being appointed as an auditor or internal auditor or from undertaking any audit - levy of penalty - The court observed that the audit committee's conclusion was based solely on EP's presentation, which ruled out fraud reported by PW. The management used PHD's work as a disclosure in the financial statements, which were then audited by PHD, amounting to self-review. The court found no ground to grant any interim relief at this stage and rejected the applications for interim direction.
Professional misconduct - Debarment from being appointed as an auditor or internal auditor or from undertaking any audit - levy of penalty - The court observed that the audit committee's conclusion was based solely on EP's presentation, which ruled out fraud reported by PW. The management used PHD's work as a disclosure in the financial statements, which were then audited by PHD, amounting to self-review. The court found no ground to grant any interim relief at this stage and rejected the applications for interim direction.
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