https://www.taxtmi.com/caselaws?id=753088 The SC upheld the validity of guidelines limiting tax audits by Chartered Accountants under Section 44AB of the IT Act, finding the restrictions reasonable and not violative of Articles 14 and 19(1)(g) of the Constitution. The Institute of Chartered Accountants of India had competence to frame such guidelines as professional misconduct regulations. However, the court applied the principle against doubtful penalization due to uncertainty in enforcement and quashed disciplinary proceedings against petitioners while allowing around 12,000 other CAs who similarly breached limits to escape action. The guidelines were deemed ineffective until April 1, 2024, with liberty reserved to enhance audit limits. en-us Fri, 17 May 2024 00:00:00 +0530 Fri, 24 May 2024 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753088 The SC upheld the validity of guidelines limiting tax audits by Chartered Accountants under Section 44AB of the IT Act, finding the restrictions reasonable and not violative of Articles 14 and 19(1)(g) of the Constitution. The Institute of Chartered Accountants of India had competence to frame such guidelines as professional misconduct regulations. However, the court applied the principle against doubtful penalization due to uncertainty in enforcement and quashed disciplinary proceedings against petitioners while allowing around 12,000 other CAs who similarly breached limits to escape action. The guidelines were deemed ineffective until April 1, 2024, with liberty reserved to enhance audit limits. Case-Laws Income Tax Fri, 17 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753088