#arbitration award set aside

Karnataka High Court holds that an arbitral tribunal's failure to consider RA Bills showing 18% GST inclusion in non-tendered works (valued at ₹9.65 crores) constitutes patent illegality under Section 34 of the Arbitration Act. The ruling reinforces that tribunals must account for tax implications in contract disputes, impacting construction and commercial arbitration.

The Supreme Court ruled that compensation for industrial land under the Land Acquisition Act, 2013 must be determined using comparable industrial sales or stamp duty rates, not residential sale deeds. This decision clarifies market value determination for industrial acquisitions, impacting landowners and acquiring authorities.

Bombay High Court rules that termination of a redevelopment agreement does not entitle the developer to retain the FSI purchase price, as Section 64 of the Contract Act mandates restitution to prevent unjust enrichment. The society is directed to refund Rs. 7.08 crore to the developer, reinforcing contractual fairness in property disputes.