https://www.taxtmi.com/caselaws?id=128080 A statutory preferential purchasing scheme was construed as a whole, and contractual labels of "principal" and "agent" could not override the substance of the payment obligation. On that construction, the Corporation was liable to pay the supplier under the scheme, and the State of Assam was not a necessary party because payments were routed through the Corporation. The later interest statute applied only prospectively, so it did not govern transactions completed before its commencement; interest on earlier supplies was limited to the ordinary civil rate, while post-commencement supplies attracted the statutory regime. The supplier succeeded on liability, but interest was modified accordingly. en-us Fri, 07 Oct 2005 00:00:00 +0530 Wed, 20 Aug 2025 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128080 A statutory preferential purchasing scheme was construed as a whole, and contractual labels of "principal" and "agent" could not override the substance of the payment obligation. On that construction, the Corporation was liable to pay the supplier under the scheme, and the State of Assam was not a necessary party because payments were routed through the Corporation. The later interest statute applied only prospectively, so it did not govern transactions completed before its commencement; interest on earlier supplies was limited to the ordinary civil rate, while post-commencement supplies attracted the statutory regime. The supplier succeeded on liability, but interest was modified accordingly. Case-Laws Indian Laws Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128080