Payment to CA firms for Special Audit under MSMED Act Not Consideration: Delhi HC Quashes Income Tax Proceedings [Read Order]

Payment to CA firms - Payment to CA firms for Special Audit under MSMED Act - Payment to CA firms for Special Audit - Delhi High Court -Taxscan

The Delhi High Court has held that the remuneration payable to the accountant doing a special audit under the Micro, Small and Medium Enterprises Development Act (MSMED), 2006 does not amount to consideration. The Petitioner, the Principal Commissioner of Income Tax, Central-1, has filed the writ petitions challenging the directions for reference to arbitration passed…

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