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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HC held that under s.21 of the Chartered Accountants Act, 1949 read with Regulation 16, the Council must independently apply its mind to the disciplinary committee's report and the member's representation, and record reasoned findings before making recommendations. In this case, although multiple charges of professional misconduct and gross negligence against the respondent auditor were held proved by the disciplinary committee, the Council's report lacked independent findings and showed non-application of mind. Treating this as a substantive procedural defect, HC exercised powers under s.21(5), set aside the Council's report and recommendation, and remitted the matter to the Council for fresh consideration and disposal in accordance with law.
HC held that under s.21 of the Chartered Accountants Act, 1949 read with Regulation 16, the Council must independently apply its mind to the disciplinary committee's report and the member's representation, and record reasoned findings before making recommendations. In this case, although multiple charges of professional misconduct and gross negligence against the respondent auditor were held proved by the disciplinary committee, the Council's report lacked independent findings and showed non-application of mind. Treating this as a substantive procedural defect, HC exercised powers under s.21(5), set aside the Council's report and recommendation, and remitted the matter to the Council for fresh consideration and disposal in accordance with law.
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