https://www.taxtmi.com/caselaws?id=778061 An arbitral award may be interfered with under section 34 where it disregards an express contractual mechanism for delay-based price reduction or directs payment contrary to the parties' tax-compliance framework. The contract treated time as essential and made the price reduction schedule binding on delay, so a tribunal could not ignore the agreed commercial bargain or require proof of loss inconsistent with that clause; the deduction was upheld. By contrast, the tribunal's discretion on interest was left undisturbed, and limited findings on mesne profits were sustained for want of quantified loss and mitigation. A GST reimbursement direction was set aside because it rewrote the contractual condition for reimbursement. en-us Mon, 18 Aug 2025 00:00:00 +0530 Wed, 10 Sep 2025 08:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778061 An arbitral award may be interfered with under section 34 where it disregards an express contractual mechanism for delay-based price reduction or directs payment contrary to the parties' tax-compliance framework. The contract treated time as essential and made the price reduction schedule binding on delay, so a tribunal could not ignore the agreed commercial bargain or require proof of loss inconsistent with that clause; the deduction was upheld. By contrast, the tribunal's discretion on interest was left undisturbed, and limited findings on mesne profits were sustained for want of quantified loss and mitigation. A GST reimbursement direction was set aside because it rewrote the contractual condition for reimbursement. Case-Laws IBC Mon, 18 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778061