also stipulate a minimum percentage of variation of the contract price above which price variations will be admissible (e.g. where resultant increase is lower ... percentage of the price) will be applicable on the price as varied by the operation of the Price variation clause. (h) No price variation will
company to the tune of Rs. 57,637-16 due to price variations, should be negatived and (2) that no interest can be claimed ... both with regard to the negation of the benefit of the price variation clause and with regard to interest. In a sense this
also to variations and
dayworks. The variations and daywork are to be determined in accordance
with Sub-clause 60.1(d). Further, such variations and daywork ... items including variations and
daywork except where such variations and daywork are otherwise subject to
adjustment (that are valued at current prices). All these
increase in cost of the
services in terms of the Price Variation Clause contained in the
contract. The Price Variation Clause (for short ... option by which it
recommended that the labour component of existing price
variation be frozen till 19/1/2017 and be kept at a base
price variation clause resulted in decrease in price, when contract for sales contained price variation clause, prices declared were provisional and consequently provisionality attaches ... claimed on the basis of downward revision of price pursuant to the price variation clause. He also submitted that by virtue of Section 12B, there
appellants reduced the price by issuing credit notes. The prices were reduced by the buyer unilaterally in terms of the price variation clause contained ... received less amount consequent to the variation of the price on the strength of price variation clause in the agreement between the assessee
following issues have been raised by the petitioner:
"A. Price Variation Clause
1. Whether the Price Variation Clause (PVC) as adopted ... more than the originally
contracted for. The petitioner contends that the Price Variation Clause as found in
the contract was defective from the beginning
which state that "contract prices" i.e. the entire contract prices are
subject to price variation. The logic and the life ... provides that the "Contract Prices" (which include as separate
items Consultancy Prices) are subject to price variation (Articles 3.1.3,
3.2.3) and that Prices
Some of these tariffs also provide for charge of "coal price variation adjustment" and "fuel cost variation adjustment" as well ... coal price variation adjustment," The relevant clauses provide for coal cost variation adjustment or fuel cost variation adjustment in notifications
buttress its claim for price adjustment. It has also contended
that the contract does not restrict the applicability of price
variation to only the original ... regard thereto. However
what is also, relevant in the context of price variation and to
which no reference has been made by the claimant
