Accountant Penalized 50 Lakh Rupees for Misconduct in Issuing Reports Without Due Diligence Under Income Tax Act.

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....Professional Misconduct - The reports issued in form 10 DA u/s 80 JJAA of Income Tax Act by the Chartered Accountant - failure to obtain sufficient appropriate evidence and failure to exercise due diligence & professional skepticism - Allegation against the CA proved - monetary penalty of Rs fifty (50) lakhs only imposed - NFRA....