Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Page of 4809
Press 'Enter' after typing page number.
2021 to 2040 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The HC adjudicated a dispute concerning GST rate changes and contractual variation clauses. The court found that the Arbitral Tribunal misinterpreted contractual provisions regarding Input Tax Credit (ITC) and statutory variation clauses. The arbitral award was set aside due to misapplication of contract terms, disregard of GST regime principles, and failure to provide reasoned justification. The HC held that the employer was contractually obligated to reimburse the full GST amount, particularly given the unexpected GST rate increase from 5% to 12%. The court emphasized that state instrumentalities cannot adopt arbitrary approaches in contract interpretation. Consequently, the petition was allowed, and the impugned arbitral award was set aside.
The HC adjudicated a dispute concerning GST rate changes and contractual variation clauses. The court found that the Arbitral Tribunal misinterpreted contractual provisions regarding Input Tax Credit (ITC) and statutory variation clauses. The arbitral award was set aside due to misapplication of contract terms, disregard of GST regime principles, and failure to provide reasoned justification. The HC held that the employer was contractually obligated to reimburse the full GST amount, particularly given the unexpected GST rate increase from 5% to 12%. The court emphasized that state instrumentalities cannot adopt arbitrary approaches in contract interpretation. Consequently, the petition was allowed, and the impugned arbitral award was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
