https://www.taxtmi.com/article/detailed?id=11625 Special audit is a statutory mechanism allowing the Assessing Officer, with approval of senior tax authorities, to direct an assessee to obtain an accountant's audit or cost accountant's inventory valuation where complexity, volume, multiplicity of transactions or doubts about correctness make it necessary in the interest of revenue; the assessee must be given a reasonable opportunity of being heard, nominated auditors are drawn from a maintained panel, reports are submitted in prescribed form, expenses are payable by the assessee while auditor remuneration is finally determined by the Commissioner and paid by the Central Government. en-us Wed, 19 Jul 2023 09:07:51 +0530 Wed, 19 Jul 2023 09:07:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11625 Special audit is a statutory mechanism allowing the Assessing Officer, with approval of senior tax authorities, to direct an assessee to obtain an accountant's audit or cost accountant's inventory valuation where complexity, volume, multiplicity of transactions or doubts about correctness make it necessary in the interest of revenue; the assessee must be given a reasonable opportunity of being heard, nominated auditors are drawn from a maintained panel, reports are submitted in prescribed form, expenses are payable by the assessee while auditor remuneration is finally determined by the Commissioner and paid by the Central Government. Articles Income Tax Wed, 19 Jul 2023 09:07:51 +0530 https://www.taxtmi.com/article/detailed?id=11625