Delhi Development Authority vs M/S. Karamdeep Finance And Investment ...

The Supreme Court upheld the Delhi High Court's decision that the demand of Rs.1,43,90,348/- raised by the Delhi Development Authority (DDA) was illegal under the provisions of the Perpetual Lease Deed and Section 269UD of the Income Tax Act, 1961. The Court clarified that the lessee's obligation to pay unearned increase only arises upon sale or transfer with prior consent, which was not applicable in this case. The Court affirmed the High Court's order to return the conversion charges paid by the writ petitioner, M/s. Karamdeep Finance & Investment (I) Pvt. Ltd.