Madras HC grants interim-relief to Heeranandani Realtors & Mahalakshmi Enterprises, stays NAA order

Madras HC grants stay of order passed by National Anti-Profiteering Authority (NAA) in case of Heeranandani Realtors Pvt. Ltd. and Shree Mahalakshmi Enterprises upholding claim of profiteering for not passing of additional ITC benefit; Counsel for the Petitioner argues that no clear mechanism or methodology is prescribed for determination of benefit of ITC to be passed on by way of commensurate reduction in prices; Petitioner further challenges the mechanism adopted in t...