Loss In Derivatives Is Not A Speculative Transaction And Can Be Set Off Against Business Income Of Assessee: Kerala High Court

The Karnataka RERA directed Ozone Urbana Infra Developers to refund Rs 102 crores to a homebuyer due to delays in possession. The developer failed to deliver the property on time, violating the terms of the sale agreement. The homebuyer had sought possession but was left waiting far beyond the agreed-upon date. RERA held the developer responsible for the delay and ordered the refund of the full amount, emphasizing the importance of adhering to timelines in real estate transactions. This decision highlights the accountability of developers under RERA and protects consumers from financial loss due to delays in possession.