That is a bizarre decision although it does seem to uphold the principle of caveat emptor – buyer beware.
I reckon a smart lawyer would, on appeal, have argued that the current owner, acting in good faith, could not have known that the ceiling was non-compliant whereas the Owners Corp had a statutory duty to make sure that it was compliant.
In any case, there is no principle of precedent for CTTT rulings (although previous rulings are often considered by adjudicators as part of the broader picture).