1998 (4) TMI 17

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....(2A) of the Income-tax Act, 1961, requiring the petitioner to get his accounts audited from a certified auditor mentioned in the order. Learned counsel for the petitioner submits that the power to get accounts audited under section 142(2A) of the Income-tax Act cannot be invoked in cases where the accounts of the assessee are already audited by reason of the provisions of section 44AB. The subm....

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....rm, as the case may be. Having a particular minimum turnover or income irrespective of the complexity of accounts whereas power under section 142(2A) can be invoked only in cases where in pending assessment proceedings, it is found that the complexity of accounts requires audit by a certified auditor. This order also requires prior approval of the Chief Commissioner or Commissioner, as the case ma....

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....ection 142(2B) of the Income-tax Act which stipulates that the provisions of sub-section (2A) shall have effect notwithstanding that the accounts of the assessee have been audited under any other law for the time being in force or otherwise. The argument is that the existence of the non obstante clause in section 142(2B) exempts operation of section 142(2A) in cases where there has been an audit u....