No deduction of interest on arbitration award during stay period as no legally enforceable right exists

Brief of the Case ITAT Delhi held In the case of M/s National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) vs. JCIT that there is no qualitative difference between the two situations, viz., first, in which no enforceable liability to pay is created in the first instance, and second, in which though the enforceable liability was initially created but the same stands wiped out by the stay on the operation of such enforceable liability. In both the situations, claimant remains without any legal right to recover the amount and equally the opposite party without any legal obl...