https://www.taxtmi.com/caselaws?id=444728 A claim for loss of profit in a delayed contract requires credible evidence of actual lost opportunity, not merely proof that the work was prolonged. Quantification tools such as Hudson's formula may assist, but cannot replace proof that resources would have been deployed elsewhere and profit earned. An arbitral award granting such compensation without supporting evidence was treated as perverse and vulnerable to interference for patent illegality and conflict with public policy, especially where it departed from binding remand directions. The challenge to the award failed, and the rejection of the loss-of-profit claim was upheld. en-us Thu, 19 Oct 2023 00:00:00 +0530 Sat, 21 Oct 2023 07:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444728 A claim for loss of profit in a delayed contract requires credible evidence of actual lost opportunity, not merely proof that the work was prolonged. Quantification tools such as Hudson's formula may assist, but cannot replace proof that resources would have been deployed elsewhere and profit earned. An arbitral award granting such compensation without supporting evidence was treated as perverse and vulnerable to interference for patent illegality and conflict with public policy, especially where it departed from binding remand directions. The challenge to the award failed, and the rejection of the loss-of-profit claim was upheld. Case-Laws Indian Laws Thu, 19 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444728