Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Page of 4862
Press 'Enter' after typing page number.
1 to 20 of 97236 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The case dealt with the interpretation of interest clauses in an arbitration award, specifically whether interest could be payable on interest or if the awarded 15% per annum interest would apply only to the principal sum, with an additional 12% per annum interest for the preaward period. The court held that interest is generally payable on the principal sum adjudged and not on interest. The Interest Act, 1978 prohibits courts from awarding interest upon interest unless specifically provided by statute or contract terms. The court noted that neither the Act nor Section 34 of the CPC empower the court to award compound interest. The Supreme Court declined to interfere with the lower courts' decision, dismissing the Special Leave Petition.
The case dealt with the interpretation of interest clauses in an arbitration award, specifically whether interest could be payable on interest or if the awarded 15% per annum interest would apply only to the principal sum, with an additional 12% per annum interest for the preaward period. The court held that interest is generally payable on the principal sum adjudged and not on interest. The Interest Act, 1978 prohibits courts from awarding interest upon interest unless specifically provided by statute or contract terms. The court noted that neither the Act nor Section 34 of the CPC empower the court to award compound interest. The Supreme Court declined to interfere with the lower courts' decision, dismissing the Special Leave Petition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
