Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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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.
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