Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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In a post-GST real estate project, the Tribunal accepted the DGAP report and rejected the anti-profiteering objection because the flat booking, construction agreement, sale deed, and full payment all occurred in the GST era, while the building permit and RERA registration were also obtained after GST began. Applying the principle that no comparative pre-GST to post-GST input tax credit benefit arises where the entire project activity and buyer transaction are post-GST, it found no basis for commensurate price reduction under Section 171 and no profiteering. The Tribunal also rejected the claim to a 1% affordable housing rate, holding that the concessional rate applied only from 01.04.2019 and did not assist a transaction completed earlier.
In a post-GST real estate project, the Tribunal accepted the DGAP report and rejected the anti-profiteering objection because the flat booking, construction agreement, sale deed, and full payment all occurred in the GST era, while the building permit and RERA registration were also obtained after GST began. Applying the principle that no comparative pre-GST to post-GST input tax credit benefit arises where the entire project activity and buyer transaction are post-GST, it found no basis for commensurate price reduction under Section 171 and no profiteering. The Tribunal also rejected the claim to a 1% affordable housing rate, holding that the concessional rate applied only from 01.04.2019 and did not assist a transaction completed earlier.
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