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2020 (2) TMI 548 - HC - GSTComputation of ITC - alleged profiteering and demand - Petitioner submits that if only the ITC availed of in respect of the residential project is considered, the demand would not be more than ₹ 64 lakhs - HELD THAT:- The petitioner is directed to deposit ₹ 65 lakhs as an interim measure within three months in three equated instalments. The first instalment shall be paid by 15.02.2020. It shall be open to the respondents to seek variation of this order, in case; they claim that the aforesaid statement of the petitioner is not correct by moving an appropriate application - the penalty proceedings shall remain stayed - application disposed off.
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