https://www.taxtmi.com/caselaws?id=752354 Contractual price-adjustment clauses were construed to distinguish ordinary escalation from additional cost caused by subsequent statutory or notified increases; enhanced royalty, sales tax and forest transit fee were treated as admissible under the compensatory clause, and the allowance was not disturbed. The claim for embankment work was treated as a separate payable item on the arbitral tribunal's majority view and supporting record. On judicial review, the court declined to reappreciate evidence or substitute another contractual construction, holding that interference under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996 is confined to cases of patent illegality or conflict with public policy. en-us Tue, 07 May 2024 00:00:00 +0530 Thu, 09 May 2024 07:19:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752354 Contractual price-adjustment clauses were construed to distinguish ordinary escalation from additional cost caused by subsequent statutory or notified increases; enhanced royalty, sales tax and forest transit fee were treated as admissible under the compensatory clause, and the allowance was not disturbed. The claim for embankment work was treated as a separate payable item on the arbitral tribunal's majority view and supporting record. On judicial review, the court declined to reappreciate evidence or substitute another contractual construction, holding that interference under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996 is confined to cases of patent illegality or conflict with public policy. Case-Laws Indian Laws Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752354