https://www.taxtmi.com/article/detailed?id=5344 The High Court concluded that the CAG's statutory remit is to audit receipts and expenditure payable into and disbursed from the Consolidated Fund and bodies substantially financed by government grants or loans, and that statutory prerequisites such as government financing or a formal request after consultation are required before the CAG may audit a non-government company; consequently, rules purporting to authorize a CAG-deputed audit of a private non-government assessee were found to exceed the Central Government's rulemaking power under the Finance Act. en-us Thu, 07 Nov 2013 12:04:56 +0530 Thu, 07 Nov 2013 12:04:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5344 The High Court concluded that the CAG's statutory remit is to audit receipts and expenditure payable into and disbursed from the Consolidated Fund and bodies substantially financed by government grants or loans, and that statutory prerequisites such as government financing or a formal request after consultation are required before the CAG may audit a non-government company; consequently, rules purporting to authorize a CAG-deputed audit of a private non-government assessee were found to exceed the Central Government's rulemaking power under the Finance Act. Articles Service Tax Thu, 07 Nov 2013 12:04:56 +0530 https://www.taxtmi.com/article/detailed?id=5344