Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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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