https://www.taxtmi.com/caselaws?id=195296 A contractual clause barring the Commissioner from entertaining claims for interest on delayed payment did not, by itself, exclude the arbitrator's power to award pendente lite interest after reference to arbitration. The clause was construed strictly, and in the absence of express words removing that power, the arbitrator remained competent to interpret the restriction and grant interest on sums legitimately due. The principle reflected in Section 34 of the Code of Civil Procedure, 1908, supported compensation for deprivation of money. The award of pendente lite interest was therefore treated as within jurisdiction. en-us Thu, 07 Dec 1995 00:00:00 +0530 Wed, 25 Oct 2017 18:02:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195296 A contractual clause barring the Commissioner from entertaining claims for interest on delayed payment did not, by itself, exclude the arbitrator's power to award pendente lite interest after reference to arbitration. The clause was construed strictly, and in the absence of express words removing that power, the arbitrator remained competent to interpret the restriction and grant interest on sums legitimately due. The principle reflected in Section 34 of the Code of Civil Procedure, 1908, supported compensation for deprivation of money. The award of pendente lite interest was therefore treated as within jurisdiction. Case-Laws Indian Laws Thu, 07 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195296