Monday, February 17, 2020

HC justified special audit if diversion of funds by assessee had come out in forensic audit report of SEBI

INCOME TAX : Where assessee was unable to cull out requisite details from books of account furnished during assessment proceedings and further accounts of assesses were voluminous and complex to handle for Assessing Officer and, further, a fact of diversion of funds by assesses had also came out in forensic audit report of SEBI, Assessing Officer was justified in issueing notice for special audit under section 142(2A)

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