SCN cannot be kept in abeyance and adjudicated beyond a reasonable time
The Petitioner1 formerly known as S and H Services Pvt. Ltd., had executed a contract with Sunny Vista Pvt. Ltd. for undertaking construction work in the Special Economic Zone (‘SEZ’). As per the contract, Sunny Vista was required to pay a refundable deposit of Rs. 20 crores. The Petitioner declared the deposit as exempt turnover in Form ST 3.