https://www.taxtmi.com/caselaws?id=307425 SC allowed the appeal in part and set aside the unconditional refund direction. The Court held that the purchaser's deposit need not be immediately refunded; the seller could quantify loss from a resale conducted at the purchaser's cost and risk and recover shortfall after following due process. The seller must serve a detailed notice explaining the computation of loss post-second auction, consider responses, and pass a speaking order. Respondents may challenge that order in appropriate fora. If the speaking order shows loss within the deposit, adjustment may be made and any balance refunded, subject to rights of both parties and further legal challenge. en-us Thu, 28 Nov 2019 00:00:00 +0530 Wed, 15 Oct 2025 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307425 SC allowed the appeal in part and set aside the unconditional refund direction. The Court held that the purchaser's deposit need not be immediately refunded; the seller could quantify loss from a resale conducted at the purchaser's cost and risk and recover shortfall after following due process. The seller must serve a detailed notice explaining the computation of loss post-second auction, consider responses, and pass a speaking order. Respondents may challenge that order in appropriate fora. If the speaking order shows loss within the deposit, adjustment may be made and any balance refunded, subject to rights of both parties and further legal challenge. Case-Laws Indian Laws Thu, 28 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307425