Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
In a real estate anti-profiteering matter, the Tribunal applied a project-wise, area-based method to quantify the benefit of GST input tax credit and upheld the DGAP's computation on the basis that post-GST credit savings had to be passed on to homebuyers. It rejected attempts to restrict the benefit to goods-related credit or to notionally adjust unavailed pre-GST service credit, and treated the respondent's verified statements as admissions that profiteering had occurred. The amount of profiteering was upheld with GST on the excess realisation, and interest was also directed from the date of payment of the last instalment by each buyer.
In a real estate anti-profiteering matter, the Tribunal applied a project-wise, area-based method to quantify the benefit of GST input tax credit and upheld the DGAP's computation on the basis that post-GST credit savings had to be passed on to homebuyers. It rejected attempts to restrict the benefit to goods-related credit or to notionally adjust unavailed pre-GST service credit, and treated the respondent's verified statements as admissions that profiteering had occurred. The amount of profiteering was upheld with GST on the excess realisation, and interest was also directed from the date of payment of the last instalment by each buyer.
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