Apex court held that, a Chartered Accountant can be held guilty of professional misconduct even when he is acting as an individual in commercial dealings and is not acting as a Chartered Accountant nor discharging any function in relation to his practice as a Chartered Accountant. Under the chartered Accountants Act, any action which brings disrepute to the profession or the Institute is misconduct whether or not related to professional work. ( CA NO. 11034 of2018, dt. 16.11.2018)
Council of ICAI v. Gurvinder Singh ( 2018) 259 Taxman 31(SC), www.itatonline.org
S. 22 : Professional misconduct-A Chartered Accountant can be held guilty of professional misconduct even when he is acting as an individual in commercial dealings and is not acting as a Chartered Accountant nor discharging any function in relation to his practice as a Chartered Accountant. Under the chartered Accountants Act, any action which brings disrepute to the profession or the Institute is misconduct whether or not related to professional work. [ S.21(3) ]