Penalty : Sir, there is a change/amendment in section 147 & s. 447 so now incase an auditor is found guilty in A/Y 18-19 of fraudulent intent for suppose previous year 16-17, then penalty provisions of previous act shall apply or from the new amended one???

Questions › Category: Co. Audit - I › Penalty : Sir, there is a change/amendment in section 147 & s. 447 so now incase an auditor is found guilty in A/Y 18-19 of fraudulent intent for suppose previous year 16-17, then penalty provisions of previous act shall apply or from the new amended one???

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Jaspreet Singh asked 6 years ago

Sir, there is a change/amendment in section 147 & s. 447 so now incase an auditor is found guilty in A/Y 18-19 of fraudulent intent for suppose previous year 16-17, then penalty provisions of previous act shall apply or from the new amended one???

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Ravi Staff answered 6 years ago

Yes there are changes in penalty of Sec 147 & 447 and these changes were notified on 9th Feb 2018, as per general understanding these penalties will be applicable prospectively 9th Feb 2018 onwards, for all defaults after this date.