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Tax audit under section 44ab

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Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2014 A tax audit under section 44AB has been conducted for the financial year 2007-08 of the Assessee by an auditor.The Income Tax Return had been filed in due time on the basis of such accounts and audit.The Assessment was completed under section 143(3) on the basis of such audited accounts and returns.Now at the Appeal stage, the Assessee has filed a new accounts for the Financial Year 2007-08 duly audited by a new auditor and stated the new audited acccounts are correct. Please let me know whether the new audited accounts are permissible under section 44Ab of the Act.
Please let me know the CA Institute guidelines and provisions of section 44AB in this respect.

Regards
Ranajay Sinha Biswas

Nikhil Kaushik

Nikhil Kaushik (Expert)

12 June 2014 amendment of accounts is permitted and so is revised audit. but before a new auditor signs such accounts he has to compulsorily communicate with the previous auditor. otherwise it will a violation of ICAI rules

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