CA NeWs Beta*: IT:Recognition of ICAI publications by Supreme Court

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Wednesday, June 11, 2014

IT:Recognition of ICAI publications by Supreme Court

CIT v Punjab Stainless Steel Industries 364 ITR 144 (SC)

The court observed "there is no reason not to accept the meaning of the
term "turnover" given by a body of accountants, having statutory
recognition"


Before it the court also observed "When a recognised body of accountants,
such as ICAI, after due deliberation and consideration publishes certain
material for its members, one can rely upon it"

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