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1.Incorrect claim based on CA report would not attract penalty. [Oxford Softech Pvt Ltd. vs. ITO (ITAT Delhi)].
2.Department cannot insist to avail particular option under Rule 6. [M/s Mahindra & Mahindra Limited vs. CCE, Jaipur – I (CESTAT – New Delhi)].
3.Vijaya Bank, head office, Bangalore invites online applications for empanelment of concurrent auditors for year 2016-17. The applicants should also send a hard copy of online application and undertaking letter with the acknowledgement, duly signed by the authorised signatory of the firm.
4.ICAI releases 5 revised standards on auditing and a new SA 701, communicating key audit matters in the independent auditors report.
5.File GNL-1 for change in MOA by Sec 8 Co.s instead of form RD-1, since power for approving change in MOA is delegated to the ROC. ICAI clarifies on 17.05.16.

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