Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
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HC ruled against the promoter's attempt to deduct GST loss of Rs. 11,40,376/- from the refund amount following apartment cancellation. The court found no contractual provision in the Sale and Construction Agreements for GST deduction upon cancellation. The promoter's initial communication only mentioned 10% cancellation charges, revealing GST loss deduction only after the allottee refused to purchase an alternative apartment. The promoter failed to prove double GST payment for the same apartment. The court upheld the Appellate Tribunal's order allowing withdrawal of pre-deposit amount with accrued interest, directing the allottee to provide biweekly updates on refund application progress. Appeal dismissed.
HC ruled against the promoter's attempt to deduct GST loss of Rs. 11,40,376/- from the refund amount following apartment cancellation. The court found no contractual provision in the Sale and Construction Agreements for GST deduction upon cancellation. The promoter's initial communication only mentioned 10% cancellation charges, revealing GST loss deduction only after the allottee refused to purchase an alternative apartment. The promoter failed to prove double GST payment for the same apartment. The court upheld the Appellate Tribunal's order allowing withdrawal of pre-deposit amount with accrued interest, directing the allottee to provide biweekly updates on refund application progress. Appeal dismissed.
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