Dear All,
We had an Arbitration proceedings wherein an award was passed against us. No appeal has been filed and as such the award had attained its finality.
The other side filed execution proceedings and some part payment was also made by us. However during the pendency of the Execution proceedings we realized that the award passed by the Ld. Arbitrator did not take into effect the TDS (Tax deposited at Source) deducted by us and deposited with the authorities and TDS certificates also issued.
Kindly note that TDS is a Statutory Deduction and the same becomes due and payable as soon as the expense is booked irrespective of fact whether the expense has been paid by us or not.
My query is:
1) Do I need to go back to the Arbitrator with these facts and pray for modification of the orders; or
2) Can I seek adjustment of the TDS from the Executing court
Thanks
Prakash
