(1.) This Original Petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996 challenging the Award passed by the sole Arbitrator in favour of the claimant. The parties are arrayed as per their own ranking before the Arbitral proceedings.
(2.) The brief facts leading to file this Original Petition is as follows:
(3.) The claimant sought for extension of time upto 31.7.2008 in its letter dated 22.01.2008 and the same was granted by the Respondent in its letter dated 06.02.2008. In the course of execution of the work, the claimant enclosed a certificate dated 14.2.2008 in Form-S issued by VAT Assessing Officer CTO, Egmore II Assessment Circle, Chennai, which certified that tax need not be deducted at source under Section 13 of the TNVAT Tct, 2006 from the bills of the claimant till the completion of the project. Thus, the claimant requested the respondent not to deduct tax from 2007 to 2008 for a total sum of Rs.4,50,795/-. On 12.12.2008 the claimant submitted to the Respondent a debit note dated 12.12.2008 for Rs.25,53,720/- towards TNVAT paid by the claimant from August 2007 to October 2008 on various materials transferred as property in the execution of the works contract. On 06.01.2009 the Respondent sent a letter to the Claimant stating that the debit note sent carried no authenticity as to the remittance of the VAT to the Government. Hence the claimant was called upon to submit the authenticity for payment apart from the break up for each of the materials used for the work of further verification with respect to the agreement.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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