https://www.taxtmi.com/caselaws?id=752649 The Jharkhand HC upheld the AO's order for special audit under section 142(2A) of the Income Tax Act, ruling that the AO's satisfaction for ordering special audit is not subject to judicial scrutiny unless mala fide intention is demonstrated. The court found valid reasons for the audit including doubts about account correctness, multiplicity of transactions, hawala transactions, and complex voluminous accounts. While acknowledging that five days' notice was insufficient and violated natural justice principles, the court determined no serious prejudice was caused to the petitioner-company. The court extended the auditor's report submission deadline by three months but otherwise declined to interfere with the order. en-us Wed, 24 Apr 2024 00:00:00 +0530 Wed, 15 May 2024 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752649 The Jharkhand HC upheld the AO's order for special audit under section 142(2A) of the Income Tax Act, ruling that the AO's satisfaction for ordering special audit is not subject to judicial scrutiny unless mala fide intention is demonstrated. The court found valid reasons for the audit including doubts about account correctness, multiplicity of transactions, hawala transactions, and complex voluminous accounts. While acknowledging that five days' notice was insufficient and violated natural justice principles, the court determined no serious prejudice was caused to the petitioner-company. The court extended the auditor's report submission deadline by three months but otherwise declined to interfere with the order. Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752649