J&K HC says CAs must verify records before issuing certificates
In short
The J&K High Court said a chartered accountant must check supporting papers before issuing utilisation certificates. The report also says gaps between the certificates and the financial records can lead to criminal scrutiny.
This matters for accountants and clients who rely on such certificates. The available summary does not say the case name or how broad the ruling is.
What the reporting says
A Chartered Accountant must scrutinise supporting documents before issuing utilisation certificates, according to the J&K High Court as summarized by Taxscan. The report says discrepancies between such certificates and financial records can justify criminal scrutiny. It does not state the case name, date, or the full legal reasoning, so the exact scope of the ruling remains unclear.
Why it matters
The J&K High Court, as summarized by Taxscan, said a Chartered Accountant must carefully review supporting documents before issuing utilisation certificates. It also noted that differences between those certificates and the financial records can justify criminal scrutiny. The available reporting does not identify the case name, parties, or whether the ruling changes prior practice beyond this standard.