High Court stays anti-profiteering verdict against Pyramid Infratech

The Delhi High Court on Tuesday stayed an order by the National Anti-Profiteering Authority (NAA) against realty firm Pyramid Infratech. The authority had directed the company to refund or reduce Rs 82.2 million from 2,476 buyers’ last installment for not passing the benefit of input tax credit (ITC) to them.
 
The authority had also asked the company to pay interest of 18 per cent per annum to be calculated from the date of receipt of the excess amount from each buyer, within three months.
 
The company had instead offered to pay Rs 51.1 million to the authority to