Discuss and explain the correctness of the following statements in the context of the provisions of Income-tax Act, 1961: (ii) Assessing Officer may direct for the audit of the accounts under section 142(2A) of the Act,

The statement is Correct: Assessing Officer as per section 142(2A) of the Income tax Act, 1961, may issue directions for special audit of accounts by giving a show cause notice to an assessee, with the previous approval of the Commissioner or Chief Commissioner on the basis of the following reasons: nature and complexity of accounts volume of the accounts doubts about the correctness of the accounts multiplicity of transactions in the accounts specialized nature of business activity of the assessee; and the interest of the revenue Provided that the Assessing Officer shall not direct the assessee to get the accounts so audited unless the assessee has been given a reasonable opportunity of being heard. The provisions of sub-section (2A) shall have effect notwithstanding that the accounts of the assessee have been audited under any other law for the time being in force or otherwise. Every report under sub-section (2A) shall be furnished by the assessee to the Assessing Officer within such period as may be specified by the Assessing Officer.