Search Results for "Delayed Payment Charges"

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Search Results for "Delayed Payment Charges"

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High Court

High Court of Karnataka Dismisses Revenue's Appeals in TDS Dispute with Electricity Company — Delayed Payment Charges Not 'Interest' Under Section 2(28A) of Income Tax Act, 1961. The court held that delayed payment charges collected by an electricity company from consumers for belated payment of bills do not constitute 'interest' as defined under the Income Tax Act, and therefore no TDS is deductible under Section 194A.

15 Dec 2015

The Revenue filed appeals under Section 260-A of the Income Tax Act, 1961, against a common order of the Income Tax Appellate Tribunal (ITAT) dated 31...

High Court

Bombay High Court Examines Arbitral Award on Interest under Delayed Payments Act for Small Scale Industries. Challenge to Award Directing Payment of Statutory Interest for Delayed Settlement of Bills Under Section 4 of the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993.

3 May 2013

The petitioner, Maharashtra Small Scale Industries Development Corporation, filed an arbitration petition under Section 34 of the Arbitration and Conc...

High Court

Bombay High Court Allows Recovery of Principal with Reduced Interest in Bill Discounting Dispute — Interest Rate of 18% p.a. Granted from Due Date Instead of Claimed 30% p.a. The court held that the plaintiff is entitled to interest at 18% p.a. on the defaulted principal from the due date until suit, and thereafter at 6% p.a. pendente lite and future interest under Section 34 CPC.

20 Mar 2015

The plaintiff, Mahindra & Mahindra Limited, filed a summary suit against NEPC Micon Limited for recovery of Rs. 1.06 crores, comprising a principal su...

High Court

Bombay High Court Directs MIDC to Recalculate Water Charges for Industrial Unit Considering Water Used as Raw Material. Court Holds That Water Charges Must Be Based on Actual Consumption and Not Arbitrary Rates, and That Delayed Payment Charges Cannot Be Levied Without Proper Adjudication.

8 May 2013

The Petitioner, Zawar Sales Limited, a small-scale industry engaged in manufacturing, filed a writ petition seeking a direction to the Maharashtra Ind...

High Court

High Court of Bombay Dismisses Broker's Challenge to Arbitral Award in Client Dispute Over Delay Paying Charges. Unilateral Charging of 2% Daily Interest Without Specific Agreement or Proof of Loss Held Unconscionable and Not Enforceable Under Section 34 of Arbitration and Conciliation Act, 1996.

7 Mar 2012

The case involves a dispute between Sharekhan Limited, a trading member/broker of the Bombay Stock Exchange (BSE), and Nita Thakkar, a client. The bro...

Supreme Court

Supreme Court Considers Appeal Against High Court Judgment Dismissing Challenge to Arbitral Award in Bill Discounting Dispute — Contractual Interest Rate of 36% Per Annum with Monthly Rests Upheld. High Court's Upholding of Arbitral Award on Interest Rate Based on Mutual Agreement Between Commercial Parties and Not Opposed to Public Policy.

1 Jan 1970

The dispute arose from a bill discounting facility extended by the respondent to a seller (BDDL) and buyer (appellant) of goods. The appellant and BDD...

High Court

Bombay High Court Upholds Interest on Delayed Gratuity Under Section 8 of Payment of Gratuity Act, 1972 — Employer's Dispute Over Quantum Does Not Justify Withholding Payment Beyond Prescribed Period.

20 Dec 2018

The judgment concerns two writ petitions arising from an order dated 27/02/2017 passed by the Assistant Labour Commissioner (Central), Nagpur, acting ...

High Court

Bombay High Court Hears Petition Against Coercive Recovery of Service Tax Without Adjudication, Examining Scope of Section 73 of Finance Act, 1994. The Court Considers Whether Revenue Can Take Steps Under Section 87 Absent Determination of Tax Liability Through Statutory Adjudication Process.

20 Apr 2015

The petitioner, ICICI Bank Ltd., a scheduled bank, challenged a communication dated 25/3/2015 issued by the Service Tax authorities demanding interest...

Supreme Court

Supreme Court Allows Developer's Appeals in Consumer Disputes Over Delayed Possession — Compensation Modified to 9% Interest Per Annum in Line with Consent Orders. The Court held that the developer is entitled to a three-year completion period and compensation for delay shall be at a uniform rate of 9% per annum, not the higher rates awarded by the NCDRC.

10 May 2019

The Supreme Court disposed of a batch of civil appeals arising from orders of the National Consumer Disputes Redressal Commission (NCDRC) concerning d...

Supreme Court

Supreme Court Dismisses Appeal in Telecom Infrastructure Charges Case Over Retrospective Application. Appellant's Circular Increasing Charges from 2009 Held Invalid as Yearly Payments Are Made Upfront, Making Retrospective Burden Unreasonable Under Interconnection Agreements.

22 Sep 2022

The dispute arose from appeals filed by Bharat Sanchar Nigam Ltd. challenging a judgment by the Telecom Disputes Settlement and Appellate Tribunal. Th...

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