Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
A High Court, exercising limited Section 34 review, sustained the arbitrator's view that extensions of time justified corresponding rescheduling of milestones, so release of the withheld milestone amount was proper. It quashed interest on that withheld amount because the contract imposed an absolute bar on any interest. The court corrected the final bill figure to reflect an admitted clerical error. It also disallowed the post-GST differential tax claim for lack of proof of actual payment and annulled prolongation damages for want of able loss under Section 73. The refund of penalty for delay in the sample flat, along with interest other than on the withheld amount and costs, was maintained.
A High Court, exercising limited Section 34 review, sustained the arbitrator's view that extensions of time justified corresponding rescheduling of milestones, so release of the withheld milestone amount was proper. It quashed interest on that withheld amount because the contract imposed an absolute bar on any interest. The court corrected the final bill figure to reflect an admitted clerical error. It also disallowed the post-GST differential tax claim for lack of proof of actual payment and annulled prolongation damages for want of able loss under Section 73. The refund of penalty for delay in the sample flat, along with interest other than on the withheld amount and costs, was maintained.
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