Court : Delhi
Reported in : 2002IAD(Delhi)757; AIR2002Delhi281; [2002]111CompCas349(Delhi)
..... of chartered accountants of india (hereinafter referred to as the institute, for short) has made this reference under section 21(5) of the chartered accountants act, 1949 (hereinafter referred to as the act, for short) in respect of shri mahesh taneja, fca with the prayer that this court may pass necessary orders in accordance with section 21(6) of the act.2. ..... with similar case of professional misconduct of another chartered accountant, this court in its decision dated 4th september, 2000 in chartered accountant reference no. ..... entitled council of institute of chartered accountants of india v. a.p. ..... chartered accountants' profession occupies a place of pride amongst various professions of the ..... perusal of the documents on record and those produced at the time of hearing, and the evidence of the witnesses, the committee is of the opinion that the respondent was grossly negligent in as muchas he failed to discharge his duties as a chartered accountant. ..... disciplinary committee came to the conclusion that the respondent was grossly negligent inasmuch as he failed to discharge his duties as chartered accountant. ..... it decided to accept the report of the disciplinary committee and found that the respondent was guilty of professional misconduct within the meaning of sections 21 and 22 read with clause (7) of part i of the second schedule of the act and on that basis it decided to recommend this court that the name of the respondent be removed from the register of members for a period of one .....
Tag this Judgment!Court : Chennai
Reported in : AIR1953Mad152; [1952]22CompCas356(Mad); [1952]22ITR235(Mad); (1952)IIMLJ493
..... a reference under section 21 chartered accountants act (act xxxviii of 1949). ..... respondent was a representative of the assessee in the income-tax proceedings; that his position was analogous to that of an advocate appearing for a party in court and that he owed a duty to the income-tax department to act fairly in the presentation of the case of the assessees.we agree that the position of chartered accountants representing the income-tax assessees is similar to that of advocates representing parties in court and that their obligations are similar to those of advocates. ..... is a partner in firm of chartered accountants. ..... he filed a statement in which he pleaded that he prepared the return and the statements only on the basis of the accounts produced before him by the assessees, that he acted throughout only as their representative, that he had no personal responsibility in the matter and that he was not guilty of any ..... are in the position of trustees in relation to the shareholders and in auditing the accounts maintained by the directors the auditor acts in the interests of the share-holders who are in the position of beneficiaries. ..... in those cases the auditor acts only for those individuals and it is his duty to act on their instructions, and to audit the accounts produced by them and prepare statements ..... is that he owed a duty to the department, to himself investigate the truth and correctness of the accounts of the assessees and not merely to act as their post office in transmitting them. .....
Tag this Judgment!Court : Delhi
Reported in : [1998]91CompCas451(Delhi); 1993(26)DRJ43; ILR1993Delhi109b
..... have seen the list of senior chartered accountants which is maintained by the company section. ..... most of the times it is the chartered accountants who are acting as experts in this area and advise and guide their clients in such ..... in support of this submission, he has made reference to provisions under the income-tax act, particularly sections 45 and 46 of the said act and has cited certain judgments to the effect that in the case of distribution of assets of a company in liquidation to the shareholders, there is no sale or transfer of the assets of the company and, thereforee, capital gains tax does ..... clause 14 which comes much after clause 2 has to be interpreted in the circumstances as really an interim arrangement because the parties who are residing in the gold links house and till the settlement was to be fully implemented, were not to be disturbed. ..... ) : 'where for the purpose of wealth-tax the shares held by an assessed in a company are to be valued under section 7of the wealth-tax act, 1957, though ultimately the facts and circumstances of the case, the nature of the business of the company, the prospects of profitability and such other considerations will be taken into account, the following principles are normally applicable : (1) where the shares are of a public company and are quoted on the ..... april 4, 1988, in this court under sections 433 and 439 of the companies act, 1956 (c.p. no. ..... valuer was acting as a local commissioner and ought to have given notice and opportunity to .....
Tag this Judgment!Court : Karnataka
Reported in : 2009(2)KarLJ593; 2009(1)KCCR749; 2009(2)AIRKarR451
..... had been illegally taken by the vice-president and the same is kept by him in his house and that a complaint has been lodged against the vice-president on 23.3.2008 and it was reported by the chartered accountant that there is violation of section 32(1)(h) & (i) of the act and that no meeting of the society was convened after 9.2.2008 for over a period of six months and it is reported about the irregularities committed in not recovering installments from the loaners vide pl. ..... according to the 2nd respondent, the writ petition filed by the petitioner is not maintainable, since the petition is represented by its president and not by the chief executive of the co-operative society in terms of section 31(2)(b) of the act and that the petition is also not maintainable, since the chartered accountant was directed to verify the records and submit the report based on the letter of the president. ..... dispute was unable to manage the affairs of the society in accordance with the act when the president has addressed a letter to the 2nd respondent and based on the same, if the 2nd respondent has directed the chartered accountant to verify the records and submit a report in regard to the affairs of the society and based on such direction, when the chartered accountant has submitted her report about the violations made by the petitioner-society and when .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(1)BomCR592; 2009(2)MhLj300
..... therefore, mere usage of the premises of the chartered accountant for carrying out his profession though admittedly dominant purpose and use of the premises is for residence, that itself cannot be sufficient to hold that the premises was let out for composite purposes. ..... therefore, the professional like doctor, advocate, chartered accountant if use their premises for professional purpose and dominantly for residential purpose, the so called agreement cannot be said to be for composite purpose of residential and non-residential. ..... in the present case, the respondent being chartered accountant, was using one room for consultation. ..... the petitioner/plaintiff/landlady has challenged the orders passed by the courts below, whereby her suit for eviction is dismissed which was under section 13(1)(a) and (1) of bombay rents, hotel and lodging house rates (control) act, 1947 (for short, 'bombay rent act') by holding that there is no change of user of the suit premises and though the respondent/tenant-acquired suitable residence, but still not entitled for possession.2. ..... in view of the clear interpretation and decision given by the supreme court, as well as, this court and as the tenancy, according to me also is for residential purpose, and not for composite purpose as contended, in my opinion, the dominant purpose to let out the ..... it squarely falls within the provisions of section 13(1)(1) of bombay rent act in favour of the landlady and against the tenant.7. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1964Cal178,[1963(6)FLR273]
..... council of the institute and its disciplinary committee having regard to the circumstances examined by us the respondent chartered accountant must, however, pay the costs if the proceedings in this court to both the union of india represented by the chief controller of exports and the council of the institute of the chartered accountants appearing before us to be taxed according to scale on the original side and in the same manner as provided in rule 10(b) of part 11 of chapter 38 of the rules and section 121 chapter v of the chartered accountants act, 1949. ..... is a reference under section 21 of the chartered accountants act, 1949. ..... 1952, which reads as follows:-- 'in view of the above circumstances and of his au-mission we find him grossly negligent in the conduct or his professional duty,' this report was thereafter sent to the council of the institute of the chartered accountants, under regulation 11c of the chartered accountants regulations, 1949, framed of the central government under the chartered accountants act, 1949. ..... nevertheless it appears that some well-settled principles should guide this court in exercising this ample power, it is essential to remember that this court in such jurisdiction as under section 21 of the chartered accountants act is dealing with not so much a private dispute or a private litigation but is dealing with the finding of a professional body of people who are intended to be the best judges of what their own standard of professional conduct should .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1975Kant188; [1975]45CompCas238a(Kar); ILR1974KAR881
..... in this petition under article 226, the petitioner who is a chartered accountant, has challenged the validity of an order made by the institute of chartered accountants of india (hereinafter referred to as 'the institute'), the institute is a body created under the chartered accountants act, 1949 (hereinafter referred to as 'the act').2. ..... he has, however, stated as follows:--'the rendering of consultancy services and other work which comes within the ambit of a chartered accountant's work in all aspects relating to management, is in the opinion of the council, a part of the practice of a chartered accountant under section 2(2)(iv) of the act. ..... your attention is also invited to section 2(2) of the said act and regulation 167 of the chartered accountants regulations as to what constitute practice as a chartered accountant. ..... the council is now of the opinion that the consultancy service offered by the directors of the company individually or through the company, in all aspects relating to management, is part of the practice of a chartered accountant as described under section 2(2)(iv) of the act, and it would offend the provisions of section 25. ..... section 25 of the chartered accountants act prohibits companies from practising as chartered accountants. .....
Tag this Judgment!Court : Kerala
Reported in : AIR2006Ker97; [2006]129CompCas793(Ker); 2005(4)KLT754
..... bank had simultaneously filed a complaint on 24-11-1995 before the council of the institute of chartered accountants of india under section 21 of the chartered accountants act, 1949 stating that the omission pointed out on the part of the petitioner would come under the ii schedule to section 21(5) and section 22 part i, sub-section (8) namely, 'fails to obtain sufficient information to warrant the expression of an opinion'.3 ..... devan on the other hand contended that under section 21 of the chartered accountants act, 1949 on receipt of a complaint the council has got the power to refer the case to disciplinary committee enabling the committee to hold an ..... chartered accountants act, 1949 was enacted to make provision for the regulation of the profession of chartered accountants ..... in view of this, the matter will have to be placed before the council with or without your rejoinder, as required under the provisions of the chartered accountant act and the regulations.further as regards your submissions in your aforesaid letter with respect to reserve bank of india's permission being invited for withdrawal of the aforesaid complaint, you are requested to send a copy of letter of ..... the court while interpreting section 21(1) of the chartered accountants act held that the occasion for an enquiry by the disciplinary committee arises on a reference to it of a charge or charges against a member of the institute after the council has done its preliminary statutory duty of forming an opinion that .....
Tag this Judgment!Court : Karnataka
Reported in : [1975]45CompCas679(Kar)
..... a body created under the chartered accountants act, 1949 (hereinafter referred to as 'the act'). 2. ..... , stated as follows :'the rendering of consultancy services and other work which comes within the ambit of chartered accountant's work in all aspects relating in management is, in the opinion of the council, a part of the practice of a chartered accountant under section 2(2)(iv) of the act. ..... also invited to section 2(2) of the said act and regulation 167 of the chartered accountants regulations as to what constitute practices as a chartered accountant. ..... now of the opinion that the consultancy service offered by the directors of the company individually or through the company, in all respects relating to management, is part of the practice of a chartered accountant as described under section 2(2)(iv) of the act, and it would offend the provisions of section 25. ..... to the petitioner and other directors of the company was to dissociate themselves from the company on the ground that the consultancy service offered by them or through their company is a part of the practice of a chartered accountant and, therefore, forbidden by the provisions of section 25. ..... are not actually controlling the day-to-day affairs of the company, if the company is rendering such services as a chartered accountant would, then, it would come within the ambit of section 25.' 10. ..... explained in my earlier letter, section 25 of the chartered accountants act prohibits companies from practising as chartered accountants. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1957Cal33
..... on (1) the non-compliance of section 132(3) and regulation 107 of table 'a', indian companies act, and (2) the nondisclosure of the commission on sales of the company's products at or through their branches or agencies as part of the managing agents' remuneration in the profit and loss account, thereby misleading the share-holders into the belief that a lower sum was paid to the managing agents, and offending against clauses (o) and (p) of the schedule to the chartered accountants act, 1949. ..... is no independent opinion at all, because the solicitors merely referred to the view generally accepted amongst accountants and said that in the absence of any judicial authority to the contrary, it was not unreasonable to suppose that the interpretation which the accountants had placed on the regulation should be accepted. ..... his sole contention would be, he submitted, that even assuming that the profit and loss account had not been prepared in accordance with the directions contained in the companies act, as truly construed, still, his client could not be held to have been guilty of misconduct, because he had acted according to an honest understanding of the act and an honest interpretation of the agreement, in aid of which he had drawn upon the legal opinion obtained by ..... clear that, ultimately, the respondent chose not to rely upon the legal opinion of 1937, as it was, but to contend that he had interpreted it on his own account and applied his own interpretation to the facts of the case. .....
Tag this Judgment!