Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The High Court held that the Institute of Chartered Accountants of India (ICAI) is empowered to take disciplinary action against Chartered Accountant firms for professional misconduct under the Chartered Accountants Act, 1949, and not just against individual members. Sections 21A and 21B of the Act, along with Rule 8 of the 2007 Rules, enable the ICAI's Disciplinary Committee to issue notices to firms and hold them accountable for alleged misconduct, particularly in cases involving long-term arrangements or agreements spanning multiple individuals. If no specific member assumes responsibility, the firm as a whole shall be held responsible. The Court emphasized the need for robust disciplinary mechanisms against firms to enhance accountability and transparency in the profession. The writ petitions challenging the ICAI's authority were dismissed with costs, and the ICAI was directed to proceed in accordance with the law.
The High Court held that the Institute of Chartered Accountants of India (ICAI) is empowered to take disciplinary action against Chartered Accountant firms for professional misconduct under the Chartered Accountants Act, 1949, and not just against individual members. Sections 21A and 21B of the Act, along with Rule 8 of the 2007 Rules, enable the ICAI's Disciplinary Committee to issue notices to firms and hold them accountable for alleged misconduct, particularly in cases involving long-term arrangements or agreements spanning multiple individuals. If no specific member assumes responsibility, the firm as a whole shall be held responsible. The Court emphasized the need for robust disciplinary mechanisms against firms to enhance accountability and transparency in the profession. The writ petitions challenging the ICAI's authority were dismissed with costs, and the ICAI was directed to proceed in accordance with the law.
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