This Court directs the petitioner to pay the principal profiteered amount in six equated installments to the flat buyers proportionately. The interest amount directed to be paid as well as the penalty proceedings initiated by the respondents are stayed till further orders.
Section 171 of the CGST Act, 2017— Anti Profiteering -- The court relied on the decisions in Phillips India Limited Vs. Union of India & Ors. as well as in M/s Samsonite South Asia Pvt. Ltd. Vs. Union of India &Ors.
Held that:- The Hon’ble High Court directed the petitioner to pay the principal profiteered amount of Rs. 1,04,77,604/- in six equated installments to the flat buyers proportionately. The interest amount directed to be paid as well as the penalty proceedings initiated by the respondents are stayed till further orders. List on 03rd November, 2020.
This Court directs the petitioner to pay the principal profiteered amount in six equated installments to the flat buyers proportionately. The interest amount directed to be paid as well as the penalty proceedings initiated by the respondents are stayed till further orders.
Section 171 of the CGST Act, 2017— Anti Profiteering -- The court relied on the decisions in Phillips India Limited Vs. Union of India & Ors. as well as in M/s Samsonite South Asia Pvt. Ltd. Vs. Union of India &Ors.
Held that:- The Hon’ble High Court directed the petitioner to pay the principal profiteered amount of Rs. 1,04,77,604/- in six equated installments to the flat buyers proportionately. The interest amount directed to be paid as well as the penalty proceedings initiated by the respondents are stayed till further orders. List on 03rd November, 2020.