Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
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.
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