Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
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The SC allowed the appeal, set aside the HC's order and restored the execution court's position, holding that the arbitral award-drafted in conformity with the parties' MoU-did not grant compound interest and accordingly cannot be supplemented at execution. Under s.31(7)(a)/(b) of the Arbitration and Conciliation Act, party autonomy governs interest from cause of action to award date and the tribunal's discretion under clause (a) exists only in the absence of contrary agreement; clause (b) is contingent on an award. Because the tribunal awarded interest only until repayment and the MoU did not provide for compounding, the respondent's claim for compound interest in execution was rejected.
The SC allowed the appeal, set aside the HC's order and restored the execution court's position, holding that the arbitral award-drafted in conformity with the parties' MoU-did not grant compound interest and accordingly cannot be supplemented at execution. Under s.31(7)(a)/(b) of the Arbitration and Conciliation Act, party autonomy governs interest from cause of action to award date and the tribunal's discretion under clause (a) exists only in the absence of contrary agreement; clause (b) is contingent on an award. Because the tribunal awarded interest only until repayment and the MoU did not provide for compounding, the respondent's claim for compound interest in execution was rejected.
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