Tag: Audit

NFRA’s AQRR on CA Firm SRBC & Co. LLP (IL&FS Audit 2017-18)

NFRA has released its Audit Quality Review Report (AQRR) dt. 22/06/2022, on pointing out gross violations in Statutory Audit of IL&FS in respect of Financial Year 2017-18 conducted by CA Firm M/s SRBC & Co. LLP, which covers examination of the overall audit quality in terms of compliance with the auditing standards and the effectiveness […]

Penalty cannot be levied for reasonable cause for failure to submit Tax Audit Report – ITAT Mumbai

Facts and Issue of the case The present Appeal has been filed by the assessee challenging the impugned order dated 27th February 2019, passed by the Ld. Commissioner of Income Tax (Appeals) – 16 in short referred as „Ld. CIT(A)‟, Mumbai, dated 04.04.19 for Assessment Year (in short AY) 2013-13. The assessee has raised the […]

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