https://www.taxtmi.com/caselaws?id=440945 The CCI held that profiteering proceedings under Section 171 of CGST Act, 2017 against the original developer could not continue after NCLT approved the resolution plan under IBC, as all liabilities were extinguished except those specifically included in the plan. The ITC benefit passing obligation was not incorporated in the approved resolution plan. However, the new management taking over the project remains liable for passing ITC benefits to homebuyers for ongoing collections and was directed to be investigated for potential Section 171 violations regarding the incomplete project. en-us Mon, 10 Jul 2023 00:00:00 +0530 Thu, 17 Apr 2025 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440945 The CCI held that profiteering proceedings under Section 171 of CGST Act, 2017 against the original developer could not continue after NCLT approved the resolution plan under IBC, as all liabilities were extinguished except those specifically included in the plan. The ITC benefit passing obligation was not incorporated in the approved resolution plan. However, the new management taking over the project remains liable for passing ITC benefits to homebuyers for ongoing collections and was directed to be investigated for potential Section 171 violations regarding the incomplete project. Case-Laws GST Mon, 10 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440945