https://www.taxtmi.com/caselaws?id=464158 Interest under Section 31(7) of the Arbitration and Conciliation Act, 1996 is payable on the composite sum directed by an arbitral award, so interest on that awarded sum is not impermissible interest on interest. The contrary view was rejected. Where the award accords with that correct interpretation, a court should not reduce or alter the interest component on equitable grounds, and computation must follow the later law declared rather than an overruled precedent. Interference with the interest component on the basis of the earlier view was therefore unsustainable. en-us Thu, 12 Mar 2015 00:00:00 +0530 Wed, 08 Oct 2025 11:11:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464158 Interest under Section 31(7) of the Arbitration and Conciliation Act, 1996 is payable on the composite sum directed by an arbitral award, so interest on that awarded sum is not impermissible interest on interest. The contrary view was rejected. Where the award accords with that correct interpretation, a court should not reduce or alter the interest component on equitable grounds, and computation must follow the later law declared rather than an overruled precedent. Interference with the interest component on the basis of the earlier view was therefore unsustainable. Case-Laws Indian Laws Thu, 12 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464158