Section says penalty of Rs 10,000 will be levied on accountant incase of false certificate issued by us.
We as CA are not afraid of penalty if found guilty. But questions is who can challenge our integrity or our certificate. Is Assessing officers competent authority for questioning us on our integrity and charging us penalty??
AO is NOT competent enough to penalise CA and Wat about AO malafied intention, if any.
We have disciplinary committee which will further be questioning incase complaint filed because of penalty levied.
In my view we should welcome section 271J.
Increase our fee standard.
Keep documentation to defend penalty and
ICAI to represent and create a forum consisting of CA and income tax personnel to decide on penalties.
We have to be proactive and represent to set a panel incases of evoking penalty section. This would give support to member as well as revenue.
Our concern is frivolous action by AO in certain cases which is answered by forum.
Alternatively incase that is not possible than in such case penalty if be levied should be by principal Commissioner or above grade officer only but not by AO certainly.
Support governance but oppose bureaucracy.
Let us all take steps together.