Posted: 11 Mar 2011 04:30 PM PST (INDIANCORPLAW)
1. This write-up brings to one’s mind like legal implication or consequence in the case of any professional; e.g. a CA in providing any ‘service’. In the nature of things, and strictly according to the applicable code of ethics, his practice is required to be confined mainly to the functions of, – ‘audit’; though extended to the field of -‘taxation’, where he is, by convention or otherwise considered, recognised and regarded to be additionally equipped or competent, hence allowed to render ‘service’ to clients.
In the matter of - ‘liability’, besides any related others, the reported judgment of the designated Commission in Maharashtra State under the Consumer Protection Act of 1986, in re. Ravi Pandit (Appeal No, 155 of 1998, Order dated May 13, 1998) calls for a reference. In that case, as per the ruling, a CA will be liable for compensation to his client in regard to ‘deficiency in service’, that is, if advice or ‘opinion’ furnished to client is devoid of ‘legal content’, in that it is contrary to what any law explicitly provides and /or not supported by any judicial decision or textual commentary.
(This aspect as elaborated in - A HANDBOOK ON TAX PRACTICE (Chapter titled – ‘OPINION’) may be found to make for a useful reading)*
2. On the other coveted profession namely, – lawyers, there is a host of material available in public domain, of general interest. Chosen on a sampling basis, the several articles, etc., at the following links are seen to provide enough food for thought:
06/08/2009
“The Function of Transactional lawyers”
3. Reverting to the discussion on - as to whether or not liability in ‘contract’ and in ‘tort’ is mutually exclusive, according to information, the ‘law of torts’ as such is very little known, hence not invoked, in our country. So much so, it is at best of an academic interest to professionals here. Even so, one may wish to have a glance @: http://www.legalserviceindia.com/article/l129-Torts-In-India.html
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