High Court Challenge: ICAI's Cap on Tax Audit Assignments Faces Legal Scrutiny, Supreme Court Transfers Related Petitions Nationwide.

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....Validity of Guidelines issued by the Institute of Chartered Accountants of India (ICAI) - specified number (Cap) of tax audit assignments - The guidelines which are impugned in the High Court and consequent disciplinary proceedings initiated against various chartered accountants throughout the country is an issue of public importance affecting Chartered Accountants as well as the citizens who have to obtain compulsory tax audits. - Transfer Petitions are allowed. - SC....