https://www.taxtmi.com/caselaws?id=102121 A penal contractual stipulation for delayed delivery could not justify deduction of the claimed amount where no actual loss or liquidated damages were proved, so the deduction was disallowed. The employer also could not withhold admitted dues on the basis of an income-tax notice after liquidation had commenced, particularly without having discharged any tax liability to the department, so the withholding was rejected. On interest, the court held that discretion under section 34 of the Code of Civil Procedure must remain within the relief claimed; interest could not be awarded at a higher rate than the petition sought, so the rate was reduced to 12% per annum. en-us Wed, 07 Aug 1991 00:00:00 +0530 Mon, 13 Feb 2012 17:15:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102121 A penal contractual stipulation for delayed delivery could not justify deduction of the claimed amount where no actual loss or liquidated damages were proved, so the deduction was disallowed. The employer also could not withhold admitted dues on the basis of an income-tax notice after liquidation had commenced, particularly without having discharged any tax liability to the department, so the withholding was rejected. On interest, the court held that discretion under section 34 of the Code of Civil Procedure must remain within the relief claimed; interest could not be awarded at a higher rate than the petition sought, so the rate was reduced to 12% per annum. Case-Laws Companies Law Wed, 07 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102121