Refunds of property deposits allowed where payments originated from NRE/FCNR or lawful remittances, subject to genuineness checks. The amendment permits refunds of application/earnest money or purchase consideration for non allotment or cancellation of property bookings, together with interest net of income tax, where the original payment originated from the holder's NRE or FCNR account or was remitted from abroad through normal banking channels, subject to the authorised dealer being satisfied about the genuineness of the transaction.
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Provisions expressly mentioned in the judgment/order text.
Refunds of property deposits allowed where payments originated from NRE/FCNR or lawful remittances, subject to genuineness checks.
The amendment permits refunds of application/earnest money or purchase consideration for non allotment or cancellation of property bookings, together with interest net of income tax, where the original payment originated from the holder's NRE or FCNR account or was remitted from abroad through normal banking channels, subject to the authorised dealer being satisfied about the genuineness of the transaction.
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