https://www.taxtmi.com/caselaws?id=233437 The Court dismissed the writ petition challenging the appointment of a Special Auditor for a government-owned company's accounts for the Assessment Year 2010-11. The decision upheld the appointment based on significant discrepancies in the accounts, including understated liabilities and overstatement of profits, as highlighted by auditors and the Comptroller & Auditor General of India. The judgment stressed the Assessing Authority's genuine efforts to understand the complex accounts, emphasizing the need for a Special Auditor to ensure compliance with Accounting Standards under Section 142 (2A) of the Income-tax Act. en-us Mon, 22 Apr 2013 00:00:00 +0530 Wed, 01 May 2013 11:21:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233437 The Court dismissed the writ petition challenging the appointment of a Special Auditor for a government-owned company's accounts for the Assessment Year 2010-11. The decision upheld the appointment based on significant discrepancies in the accounts, including understated liabilities and overstatement of profits, as highlighted by auditors and the Comptroller & Auditor General of India. The judgment stressed the Assessing Authority's genuine efforts to understand the complex accounts, emphasizing the need for a Special Auditor to ensure compliance with Accounting Standards under Section 142 (2A) of the Income-tax Act. Case-Laws Income Tax Mon, 22 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233437