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of <h1>Assessing Officer Can Order Special Audit Under Section 142(2A) for Complex Accounts; Government Covers Costs Post-2007.</h1> Under Section 142(2A) of the Income Tax Act, an Assessing Officer (AO) can direct an assessee to have their accounts audited or inventory valued by a qualified accountant due to complexities, volume, or doubts in the accounts. This requires prior approval from higher tax authorities and the assessee must be given a chance to be heard. The costs for audits initiated after June 1, 2007, are covered by the Central Government. Reports must be submitted within a specified period, extendable up to 180 days. Non-compliance can lead to penalties and prosecution. Special audits can be ordered even if previous audits have been conducted.
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