Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Compulsory tax audits Public interest Compilation of credible financial statements Privilege Virtuous circle of trust Professional or other misconduct Nation’s taxation system Numerical restriction on the maximum number of tax audits Delegation Unfair means Chartered Accountants Excessive delegation Misconduct Integrity and standards of Chartered Accountants Professional misconduct Reasonable restriction on the right to practise the profession by a Chartered Accountant |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Act(s) Referred | Finance Act, 1984 (9 of 1984) Income Tax Rules (0 of 1962) Taxation Laws (amendment) Act, 1975 (0 of 1975) Chartered Accountants (amendment) Act, 2006 (9 of 2006) Government of India Act, 1935 (0 of 1935) Income Tax Act, 1961 (43 of 1961) Constitution of India, Chartered Accountants Act, 1949 (38 of 1949) Auditors Certificate Rules; Companies Act, 1913; Chartered Accountants, The Cost and Works Accountants and The Company Secretaries (amendment) Act, 2022 (12 of 2022) Companies Act, 1956 (1 of 1956) |
Case(s) Referred | Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3 Referred Case 4 Referred Case 5 Referred Case 6 Referred Case 7 Referred Case 8 Referred Case 9 Referred Case 10 Referred Case 11 Referred Case 12 Referred Case 13 Referred Case 14 Referred Case 15 Referred Case 16 Referred Case 17 Referred Case 18 Referred Case 19 Referred Case 20 Referred Case 21 Referred Case 22 Referred Case 23 Referred Case 24 Referred Case 25 Referred Case 26 Referred Case 27 Referred Case 28 |
Case Type | Transferred Case |
Court | Supreme Court of India |
Disposal Nature | Others |
Headnote | Council of the Institute of Chartered Accountants of India, if competent to impose, by way of Guidelines, a numerical restriction on the maximum number of tax audits that could be accepted by a Chartered Accountant, u/s. 44AB of the 1961 Act, in a Financial Year by way of a Guideline; the restrictions imposed, if unreasonable, arbitrary and illegal and thus, violative of the right guaranteed to Chartered Accountants u/Art. 19(1)(g) and impermissible u/Art. 14 of the Constitution; and exceeding of the specified number of tax audits, if can be deemed to be ‘professional misconduct’. Headnotes Chartered Accountants Act, 1949 – Income Tax Act, 1961 – s. 44AB – Audit of accounts – Clause 6 of Guidelines No.1- CA(7)/02/2008 dated 08.08.2008 issued by the Institute of Chartered Accountants of India, restricting the number of tax audits that a Chartered Accountant could carry out which was initially thirty and later raised to forty-five and thereafter to sixty in an assessment year – Petitioners undertook audits u/s. 44AB of the IT Act, 1961 over and above the number of tax audits specified as per the Guidelines dated 08.08.2008 – Issuance of the notices to the petitioners for violation of the Guideline which was a misconduct – Initiation of disciplinary proceedings by the Institute against the petitioners – Challenge to the Guidelines as well as to the disciplinary proceedings |
Judge | Hon'ble Ms. Justice B.V. Nagarathna |
Neutral Citation | 2024 INSC 451 |
Petitioner | Shaji Poulose |
Respondent | Institute Of Chartered Accountants Of India & Others |
SCR | [2024] 6 S.C.R. 777 |
Judgement Date | 2024-05-17 |
Case Number | 29 |
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