(2)Every assessee shall maintain separate accounts for the activities referred to in sub-rule (1) and shall submit a certificate from an accountant, specifying the amount credited to the reserve account and the amount utilised during the relevant previous year for the highway project.Explanation. - For the purposes of this rule, "accountant" means,-(i)a Chartered Accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or(ii)any person who, in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State.
