08 September 2015

ITAT accedes to ICAI's plea

ITAT accedes to ICAI's plea in Miscellaneous Application to modify/review its order wherein the Tribunal had strongly criticized the Institute's functioning;  Tribunal accepts ICAI's argument that that its observations in the original order about the CA profession and conduct of the students pursuing the CA courses, were not necessary to adjudicate the issues urged before it by the assessee;  Clarifying that it was not the intention of the Tribunal to target any particular person or the ICAI, modifies  para 9.6 of its original order that the Institute considered as "offensive"; ITAT in its original order, dismissed assessee's plea to condone a 2984 days delay in filing of appeal on grounds of 'improper advice' given by CA firm; While raising alarms over the reckless advice given by the CA firm, the Tribunal called on the ICAI to stem the"deteriorating standards" & "alarming practices" among some CAs; While modifying its order, Tribunal however reserves right to opine on important developments affecting the nation, observes   “... the Income tax Appellate Tribunal, being a part of Government of India, should not shut its eyes when it is noticed that certain developments occurring in the Country may affect the Country as a whole, more particularly when the reputation of particular profession, from whom the Tribunal is getting assistance in the dispensation of justice, is at stake.”;   Concludes that it would be incorrect to interpret that the Tribunal in its original order had commented upon the standards of CA profession or the ICAI, however as the said observations gave room for misinterpretation and thereafter resulted in controversies, replaces the same : Mumbai ITAT

The ruling was delivered by ITAT bench of Shri D. Manmohan and Shri B. R. Baskaran.

No comments:

Post a Comment

What do you think about this? Please write your comment.

Empanel as Concurrent Auditors

BANK OF MAHARASHTRA invites online applications from practicing firms of Chartered Accountants, in the prescribed format, who are willing to...