Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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The Hon'ble HC quashed the orders passed by the National Anti-Profiteering Authority, holding that to determine profiteering in real estate, the total GST savings for each project must be calculated and divided by the total area to arrive at the per square feet benefit to be passed on equally to flat buyers with equal area. The HC directed the Competition Commission to pass appropriate orders accordingly.
The Hon'ble HC quashed the orders passed by the National Anti-Profiteering Authority, holding that to determine profiteering in real estate, the total GST savings for each project must be calculated and divided by the total area to arrive at the per square feet benefit to be passed on equally to flat buyers with equal area. The HC directed the Competition Commission to pass appropriate orders accordingly.
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