https://www.taxtmi.com/caselaws?id=313938 A commercial buyer who accepted and later regularised supplies could not unilaterally apply a lower rate where the parties' course of dealing supported the agreed or prevailing contractual rate, and compensation was recoverable for printed bags not taken delivery of after stoppage. Liquidated damages for delay were sustained under the contract, but a separate penalty deduction was disallowed because acceptance and use of the goods, together with the absence of proved prejudice, did not justify a punitive levy. For delayed payments to a small scale industrial supplier, the special statutory regime prevailed and compound interest at the statutory rate was payable despite any contrary contractual term. en-us Fri, 10 Jun 2022 00:00:00 +0530 Wed, 08 May 2024 20:12:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313938 A commercial buyer who accepted and later regularised supplies could not unilaterally apply a lower rate where the parties' course of dealing supported the agreed or prevailing contractual rate, and compensation was recoverable for printed bags not taken delivery of after stoppage. Liquidated damages for delay were sustained under the contract, but a separate penalty deduction was disallowed because acceptance and use of the goods, together with the absence of proved prejudice, did not justify a punitive levy. For delayed payments to a small scale industrial supplier, the special statutory regime prevailed and compound interest at the statutory rate was payable despite any contrary contractual term. Case-Laws Companies Law Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313938