ICAI
ICAI clarification on illegal and unauthorised use of acronym “ICAI” by Institute of Cost Accountants
Institute of Chartered Accountants of India (ICAI) has clarified on the issue of alleged illegal and unauthorised use of the acronym “ICAI” by the Institute of Cost Accountants of India.
According to the ICAI, a news item published in Times of India with the tag line “Court refuses to stop cost accountants from using ICAI acronym” gives a wrong impression to the general public as if the Hon’ble Madras High Court has allowed the use of acronym ‘ICAI’ by the Institute of Cost Accountants of India.
According to the ICAI the above impression given by the news item is totally erroneous and misplaced and does not flow from the judgment of the High Court and has been wrongly reported.
The ICAI has clarified that the judgment was delivered with respect to a Writ Petition filed by one of the member of ICAI, However the High Court dismissed the Petition on the ground of want of locus-standi of the Petitioner.
ICAI has informed that the acronym ‘ICAI’ is its registered Trade Mark. Therefore, ICAI being its registered proprietor/owner and prior user, is exclusively entitled to use acronym ‘ICAI’ to denote its identity. Any unauthorised/illegal use of the acronym ‘ICAI’ by any person/entity amounts to infringement of Trade Mark.
The ICAI has also stated that it has already taken up the matter with the Government for its redressal and would pursue the same subsequent to aforesaid judgment with appropriate authorities. Also, legal remedies available for enforcement of its rights are also considered.
Absence of an explicit irrevocability clause in trust deed no ground for rejecting application for registration or renewal under section…
ITAT allowed increased exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees in view of CBDT retrospective notification. In…
PCIT has revisionary jurisdiction u/s 263 over the cases irrespective of the fact that the relevant assessment was completed physical…
Appellate court interfering with Motor Accidents Claims Tribunal findings on assessment of disability and loss of earning capacity must undertake…
When period of delay is not very huge and involve huge monetary liability on the assessee, a lenient approach should…
Ratification by EoGM of the company can not give legality of the diversion of the fund raised by preferential issue.…