Saturday, December 21, 2019

SC explains differences between unintelligible award and inadequacy of reason in arbitral award

ARBITRATION ACT : Courts cannot interfere with arbitral award in usual course because once High Court concludes that award is not a reasoned one, then award ceases to exist and Court becomes functus officio under section 34 of the Arbitration Act and has to remand back matter where in a challenge to award passed by Arbitral Tribunal, High Court concluded that there was no reasoned award, then award ceased to exist and Court was functus officio under section 34 of the Arbitration Act for hearing

from www.taxmann.com Latest Case Laws https://ift.tt/2EHOT9E

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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