NAA: Absence of judicial member not prejudicial to NAA constitution, directs further investigation against Emaar MGF

NAA orders developer Emaar MGF Land Ltd. (Respondent) to reduce the prices to be realized from the buyers of the flats commensurate with the benefit of ITC received by it; Upholds profiteering allegation to the tune of Rs. 19 crores (approx.) and requires DGAP to further investigate while noting that Respondent has admitted that it availed ITC of Rs. 212 crores in respect of 24 other projects; Rejects Respondent’s challenge to constitution of NAA while rebutting reliance on...