https://www.taxtmi.com/caselaws?id=463667 An arbitral tribunal cannot travel beyond the pleadings and the parties' accepted understanding of the contract by reframing a deduction clause as a mere price reduction mechanism when it had been treated as liquidated damages for delayed delivery. A tribunal must decide the dispute within the contractual framework and reference before it, and the re-characterisation was therefore beyond jurisdiction. A contractual stipulation described as liquidated damages still depends on the law of reasonable compensation: the claimant must at least plead and establish some loss or damage, even if exact quantification is not always required. In the absence of pleaded or proved loss from delayed delivery, the deduction claim could not be sustained and the award was set aside. en-us Thu, 07 Jan 2016 00:00:00 +0530 Thu, 11 Sep 2025 18:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463667 An arbitral tribunal cannot travel beyond the pleadings and the parties' accepted understanding of the contract by reframing a deduction clause as a mere price reduction mechanism when it had been treated as liquidated damages for delayed delivery. A tribunal must decide the dispute within the contractual framework and reference before it, and the re-characterisation was therefore beyond jurisdiction. A contractual stipulation described as liquidated damages still depends on the law of reasonable compensation: the claimant must at least plead and establish some loss or damage, even if exact quantification is not always required. In the absence of pleaded or proved loss from delayed delivery, the deduction claim could not be sustained and the award was set aside. Case-Laws Indian Laws Thu, 07 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463667