Audit objections and settlement thereof

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....s rectificatory action has been taken, without waiting till the collection of the additional demand ascribable to the audit objection. A large number of Revenue Audit objections are shown as pending even after rectificatory action because the collection of consequential additional demand is delayed due to either time having been allowed to the assessee for the payment of additional demand or till ....

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....t to the following conditions: (i) The P.A.C. (Fifth Lok Sabha) in para 2.79 of their 50th Report have recommended for issuing " suitable instructions to the Commissioners that where an audit objection has been accepted by the Department either at the Commissioner's level or at the Ministry's level, any order of Appeals preferred, if such contrary findings of the Appellate Assistant Commissioner ....