Gupta noted that chartered accountant profession owes its sustainability to strong regimen of ethics.
The department claimed that the CA filed "nearly 1,000 returns with loss from house property, aggregating to loss claim of Rs 18 crore" till now.
Sebi orders three entities to return the money received from clients as fees in respect of their unregistered investment advisory activities.
ICAI should have powers to punish audit firms and impose a fine of up to Rs 1 crore on erring auditors, according to a Sebi panel.
ED has opposed the bail plea of a chartered accountant, arrested in a money-laundering case allegedly linked to the political entities.
"You (CAs) take care of the economic health of the country."
Technical competence, professional skills and professional values, ethics and attitudes expected from a CA are being redefined and upgraded in the scheme.
The four chartered accountants' membership has been suspended for 3 months apart from imposing penalties under Schedule I of the Chartered Accountants Act.
I-T dept has unearthed black money worth Rs 110 cr generated by entities in two states with the alleged connivance of two Chartered Accountants using shell companies.