« Top Headlines » Open DEMAT Account in 24 hrs  Tax planning for 2025: How to maximise your savings before March 31 deadline  New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha  5 major changes in the last 6 months every taxpayer should know!  Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch  Top 10 income tax changes from 2024 to look out for while filing ITR in 2025 «  'Fresh sops for cement, none for I-T payees'... Form 16 not required to be submitted... » ICAI to decide Britannia pension case on Monday May, 04th 2007 The Institute of Chartered Accountants of India (ICAI), the self-regulatory organisation for accountants and accountancy firms, will on Monday decide a complaint by a group of pensioners from Britannia Industries against audit firm CC Chokshi & Co.    The pensioners have accused the auditor of not opposing diversion from the pension fund to Britannia Industries, in violation of the pension fund rules, Indian Trusts Act and income tax norms.    Sources said the ICAI disciplinary committee would be hearing the pensioners' allegation that R Laxminarayan, an auditor with CC Chokshi, overlooked and supported withdrawal of over Rs 12 crore from the pension fund by Britannia Industries Ltd in financial year 2003-04.    After putting off hearing a couple of times, ICAI sources said a panel would hear both the sides on Monday and take a decision. The complaint was made on April 29, 2005.    When contacted, a Britannia spokesperson refused to comment on the issue saying the matter was sub-judice. R Laxminayaran of CC Chokshi also did not comment.    According to the complaint made to the ICAI, CC Chokshi is accused of serious conflict of interest as it was paid consultancy fees by Britannia at the time it was an auditor to the pension fund.    The trustees of Britannia Covenanted Pension Fund are Britannia Managing Director Vinita Bali and Bombay Dyeing Director A K Hirjee. Britannia is owned jointly by the Wadia Group and French dairy major Danone.