https://www.taxtmi.com/caselaws?id=181746 An arbitral interpretation of a contract will be sustained where it is a possible and reasonable view, and courts will not interfere merely because another construction is available. On that basis, reimbursement for increased royalty or seigniorage on minor minerals was upheld because the contract treated price adjustment under WPI and compensation for later legislative cost increases as separate mechanisms, and the tribunal found state-specific mineral charges were not fully captured by the index. However, a claim for enhanced royalty on ordinary earth failed because the levy already existed on the contract date and the later notification did not create any new statutory burden; the tribunal therefore exceeded the subsequent-legislation clause, and that part of the award was set aside. en-us Fri, 24 Apr 2015 00:00:00 +0530 Fri, 26 May 2023 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181746 An arbitral interpretation of a contract will be sustained where it is a possible and reasonable view, and courts will not interfere merely because another construction is available. On that basis, reimbursement for increased royalty or seigniorage on minor minerals was upheld because the contract treated price adjustment under WPI and compensation for later legislative cost increases as separate mechanisms, and the tribunal found state-specific mineral charges were not fully captured by the index. However, a claim for enhanced royalty on ordinary earth failed because the levy already existed on the contract date and the later notification did not create any new statutory burden; the tribunal therefore exceeded the subsequent-legislation clause, and that part of the award was set aside. Case-Laws Indian Laws Fri, 24 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181746