NAA: Holds Housing project developer guilty of profiteering, however, withdraws penalty proceedings

NAA holds Housing Project developer guilty of profiteering for not passing on additional ITC to house buyers, however, withdraws penalty proceedings as Section 122(1) doesn’t provide for violation of anti-profiteering provisions u/s 171(1) of the Act; Notes that DGAP had conducted an investigation and found that the Respondent had not passed the benefit of additional ITC to Applicant as well as other home buyers who had purchased them in its project ‘Auric City Homes’ a...