Developer Earning Profit/Loss Margin on Land Procurement Not a ‘Real Estate Agent’ Under Finance Act, 1994: Supreme Court

The Supreme Court of India, in the case of Commissioner of Service Tax v. M/s Elegant Developers, has dismissed appeals filed by the revenue, holding that a developer facilitating land acquisition for a “fixed average rate” while bearing the risk of profit or loss is not acting as a ‘Real Estate Agent’ and is not

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