Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
SC upheld the arbitral tribunal's decision allowing liquidated damages deduction from the appellant's contractual dues. The court determined that the respondent validly imposed damages at 0.5% per week for a delay exceeding ten months, primarily attributable to the appellant. Interpreting Sections 55, 73, and 74 of the Contract Act, the court affirmed that the liquidated damages were legally and contractually valid. The Single Judge's order setting aside the arbitral award was deemed to have exceeded jurisdictional limits under Section 34 of the Arbitration Act. The Division Bench's restoration of the original arbitral award was consequently upheld, and the appeal was dismissed.
SC upheld the arbitral tribunal's decision allowing liquidated damages deduction from the appellant's contractual dues. The court determined that the respondent validly imposed damages at 0.5% per week for a delay exceeding ten months, primarily attributable to the appellant. Interpreting Sections 55, 73, and 74 of the Contract Act, the court affirmed that the liquidated damages were legally and contractually valid. The Single Judge's order setting aside the arbitral award was deemed to have exceeded jurisdictional limits under Section 34 of the Arbitration Act. The Division Bench's restoration of the original arbitral award was consequently upheld, and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
