https://www.taxtmi.com/caselaws?id=755532 An arbitral award may be vulnerable where it grants payment for undelivered goods without proof that the claimant was ready to supply, without evidence of actual loss, and despite a contractual short-closure option within the permissible margin. VAT and additional VAT cannot be awarded for goods not supplied where the contract bars benefit from levy changes after the original delivery period. Interest is also not recoverable where the bid document expressly excludes any claim for interest, because Section 31(7) of the Arbitration and Conciliation Act, 1996 yields to party agreement. The text emphasises that relief beyond the contractual bargain and unsupported damages can attract judicial interference under Section 34. en-us Thu, 11 Jul 2024 00:00:00 +0530 Mon, 15 Jul 2024 08:16:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755532 An arbitral award may be vulnerable where it grants payment for undelivered goods without proof that the claimant was ready to supply, without evidence of actual loss, and despite a contractual short-closure option within the permissible margin. VAT and additional VAT cannot be awarded for goods not supplied where the contract bars benefit from levy changes after the original delivery period. Interest is also not recoverable where the bid document expressly excludes any claim for interest, because Section 31(7) of the Arbitration and Conciliation Act, 1996 yields to party agreement. The text emphasises that relief beyond the contractual bargain and unsupported damages can attract judicial interference under Section 34. Case-Laws VAT and Sales Tax Thu, 11 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755532