Arbitral Award Validity: "Actual" Taxes Include Only Those Paid; Contract Doesn't Distinguish Between Parties' Tax Liabilities.

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....Validity of Arbitral Award - reimburse the Taxes, Excise Duty and CST. - The expression “actual” in this context refers the taxes, duties and levies actually paid to the exchequer.” Therefore, as per the contract, there is no distinction between the respondent and the sub-contractor. The Schedule 7 does not in any way affect the tax liability of the petitioner towards the respondent. The Schedule 7 merely stated an estimate amount which may be paid to the petitioner and was not based on the actuals. - HC....