81

(1) Ifat anystage of. scrutiny, inquiry, investigation or any other proceedings before him, any officer not below the rankofAssistant Commissioner, having regard to the natureand complexitycf thecaseandtheinterest of revenue, is of the opinion thatthe value has not been correctly declared or thecreditavailed is notwithin the normal limits, he may, with the priorapproval of the Commissioner, directsuch registeredpersonby a communication in writing to get hisrecords including books of account examinedand audited by achartered accountant oracost accountant as may benominated by ‘ the Commissioner: . (2) The charteredaccountant or costaccountant . so nominated shall, within the period of ninety days, submit a report of suchaudit duly signed andcertified by himto the saidAssistantCommissioner mentioning «thereinsuchother particulars as may be Specified: Provided that theAssistant Commissioner may, on an application made tohiminthisbehalf by the registered person or thechartered accountant or cost accountant or for any material and sufficient reason, extend thesaid period by a further period of ninety days. (3) The provisions of sub-section (1) shall have effect notwithstanding that theaccounts ofthe registered person havebeen auditedunder any other provisions of this Act or any other lawforthe time being in force. (4) The registeredperson shallbe given an opportunity of being heardin respect of any material gathered on the basisof special audit undersub—section (1) whichis proposed to be usedin any proceedings against him .under this Act ortherules made thereunder. (5) The expenses oftheexaminationand auditofrecords under subsection (1), including the remuneration of such charteredaccountant or cost accountant. shallbe determined and paidby the Commissioner and such determinationshall be final. . (6)- Wherethe special auditconductedunder sub-section (1) resultsindetection of tax not paid orshort paid or erroneously refunded, or input tax credit wrongly availedor utilised, the proper officer may initiateaction undersection 73orsection