https://www.taxtmi.com/caselaws?id=755474 Calcutta HC allowed petition challenging arbitral tribunal's interim order compelling petitioner to sign financial statements despite disputed accounts. Court held the order was not in aid of main relief and would render arbitral proceedings infructuous by forcing petitioner to sign statements before account veracity determination. HC ruled accounting standards are not binding on Income Tax Authorities, arbitral orders cannot bind tax authorities, and compelling signature amid disputes violates Income Tax Act provisions regarding penalties for inaccurate statements and Article 20(3) constitutional protection. en-us Tue, 09 Jul 2024 00:00:00 +0530 Sat, 13 Jul 2024 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755474 Calcutta HC allowed petition challenging arbitral tribunal's interim order compelling petitioner to sign financial statements despite disputed accounts. Court held the order was not in aid of main relief and would render arbitral proceedings infructuous by forcing petitioner to sign statements before account veracity determination. HC ruled accounting standards are not binding on Income Tax Authorities, arbitral orders cannot bind tax authorities, and compelling signature amid disputes violates Income Tax Act provisions regarding penalties for inaccurate statements and Article 20(3) constitutional protection. Case-Laws Companies Law Tue, 09 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755474