Commissioner of Income Tax-II vs. M/s.Kalyani Wines
In the result, I find this appeal bereft of merit and accordingly,
ITTA/6/2010HC Telangana14 Mar 2016
Bench: Hon’Ble Mr. Justice Robin Phukan
Section 11Section 37
…Nigam Ltd. reported in (2019) 7 SCC 236, adverting to the previous decisions of this Court in McDermott International Inc. v. Burn Standard Co. Ltd. reported in (2006) 11 SCC 181 and Rashtriya Ispat Nigam Ltd. v. Dewan Chand Ram Saran reported in (2012) 5 SCC 306], wherein it has been observed that an Arbitral Tribunal must decide in accordance with the terms of the contract, but if a term of the contract has been construed in a reasonable manner, then the award ought not to be set aside on this ground, it has been held thus: [Parsa Kente Collieries Ltd. v. Rajasthan Rajya Vidyut Utpadan Nigam Ltd.,…