Glass-housed ICAI shouldn't throw stones

Finding violation of tax laws by chartered accountants regulator ICAI, which had dubbed accounts fudging in Satyam Computer as ‘shameful´, the Income Tax authorities have withdrawn tax exemptions given to the body.

A tax assessment panel found violations such as failure to get their accounts signed by auditors, providing loans to partners without guarantee and interest and hiding income from coaching business, following which it decided to impose a penalty on ICAI, a government official said.

So much for 'clean hands', the very same hands that threw stones at Satyam. Read the complete HT Mint report here.


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