TaxTMI 
TaxTMI 
Settlement of audit objections.
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....dditions are 2,890; as against the total number of 26,037. 2504 only have been settled till Sept.83, leaving a balance of 23,533 . Out of the Major Audit Objections, pending on 30.9.83, 9,459 are stated to be pending with the A.Gs. for settlement. From the Draft Paras received in the Board's Office, it is found that a large number of objections involving substantial revenue are pending for settlem....
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....dation, the DOMS has after a study of the settlement of such objections, suggested a closer co-ordination between the counterparts in the Revenue Department and the Audit Department (C&AG's Office), namely between the IAC (Audit) and Sr. DAG/Jt. Director, CIT and AG/D.S., CBDT and the Receipt Audit Wing of the C&AG for expeditious settlement of the Audit Objections. 3. Even though the IACs (Audit....
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....n the other. In this connection, reference is invited to Para 6 of the Board's Instruction No.159 F.No.5/6/69-IT(Audit) dated 16.4.1970 and Instruction No.612 F.No.236/392/72-A&PAC dated 7.9.1973. Timely and proper answers to the audit memos at the time of local audit cannot therefore, be over-emphasised and should be ensured. On their part, the C.A.G.'s Office have issued necessary instructions t....
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....oncile statistics of pending objections, discuss with a view to settle objections having large revenue effect and attempt to eliminate or atleast reduce the areas of dispute involving common points. They could also discuss administrative problems like production of records by the ITO accommodation for audit parties, the order in which the ITO, charges are to be audited by Receipt Audit, etc. 5. A....