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2018 (2) TMI 846 - HC - Indian LawsWhether the petitioner was justified in holding the amount payable to the respondent after clearing its dues in apprehension of any tax liability that may have any reason against the company? Held that: - the witness of the respondent had admitted that the tax liability had arisen because of a typographical error of the staff of the respondent in documents relating to the transaction and hence for fault of the respondent, the petitioners have to write various letters to release such amount which was not released and hence the interest on late payment of such dues cannot be denied. Thus there is no infirmity in the award of the learned arbitral tribunal in granting an interest on ₹ 1,88,08,233/- to the respondent herein. The award is fully justified - petition dismissed.
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