https://www.taxtmi.com/caselaws?id=221752 The SC dismissed appeals by suppliers seeking interest on delayed payments for goods supplied to a Board. The suppliers argued they were entitled to interest under provisions applicable to small scale industries, despite supplies being made after contractual deadlines but with granted extensions. The SC held that the relevant date for determining applicability was when supply orders were placed, not when transactions were completed through payment. The Court reaffirmed existing precedents and rejected arguments for reconsideration, emphasizing adherence to stare decisis doctrine. Four previous SC decisions supported non-applicability of the Act to pre-commencement contracts. Appeals dismissed without costs. en-us Tue, 10 Jul 2012 00:00:00 +0530 Sat, 12 Jul 2025 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221752 The SC dismissed appeals by suppliers seeking interest on delayed payments for goods supplied to a Board. The suppliers argued they were entitled to interest under provisions applicable to small scale industries, despite supplies being made after contractual deadlines but with granted extensions. The SC held that the relevant date for determining applicability was when supply orders were placed, not when transactions were completed through payment. The Court reaffirmed existing precedents and rejected arguments for reconsideration, emphasizing adherence to stare decisis doctrine. Four previous SC decisions supported non-applicability of the Act to pre-commencement contracts. Appeals dismissed without costs. Case-Laws Indian Laws Tue, 10 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221752