Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Arbitrator exceeded contractual scope by creating a non-existent clause to deduct shortfall in Minimum Guaranteed CENVAT Credit (MGCC) from invoices; the correct legal principle is that arbitrators must decide within the four corners of the contract and cannot add terms. The arbitrator wrongly treated the tax component as excluded from MGCC and failed to apply clause 14.5.2 correctly, which only denies reimbursement if documents to avail CENVAT are not produced. Because the arbitrator ventured beyond contractual terms and committed patent illegality, the arbitral award was set aside.
Arbitrator exceeded contractual scope by creating a non-existent clause to deduct shortfall in Minimum Guaranteed CENVAT Credit (MGCC) from invoices; the correct legal principle is that arbitrators must decide within the four corners of the contract and cannot add terms. The arbitrator wrongly treated the tax component as excluded from MGCC and failed to apply clause 14.5.2 correctly, which only denies reimbursement if documents to avail CENVAT are not produced. Because the arbitrator ventured beyond contractual terms and committed patent illegality, the arbitral award was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
