TaxTMI 
TaxTMI 
2026 (2) TMI 1069
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.... Standing Committee on Anti-Profiteering on applications dated 24.01.2020, 03.06.2020 and 15.10.2020 filed by following Applicants: 1. Shri Vijay Pratap Singh, Plot No. 25, Sector-16A, PPEI Building, PS-PEM, Noida, Uttar Pradesh-201301(hereinafter referred to as "the Applicant no. 1") 2. Shri Sudhir Srivastava, 320, Supertech Residency, Sector-5, Vaishali, Ghaziabad, Uttar Pradesh, (hereinafter referred to as "the Applicant no. 2") 3. Shri Alok Pastor, 601, Tower-10, Panchsheel Hynish, Plot no. GH-08A, Sector-1, Greater Noida-201306 (hereinafter referred to as "the Applicant no. 3") 4. Shri Lalit Kumar, E-178, Sector-11, Pratap Vihar, Vijay Nagar, Ghaziabad, Uttar Pradesh-201009 (hereinafter referred to as "the Applicant no. 4") 5. Shri Mohit Kumar, 901, Tower-10, Panchsheel Hynish, Plot no. GH-08A, Sector-1, Greater Noida-201306 (hereinafter referred to as "the Applicant no. 5") 6. Shri Akhilesh Kumar Singh 401, Tower-10, Panchsheel Hynish, Plot no. GH-08A, Sector-1, Greater Noida-201306 (hereinafter referred to as "the Applicant no. 6") 7. Shri Tirupati Walia (hereinafter referred to as "the Applicant no. 7") ....
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.... DGAP for re-investigation in terms of Hon'ble High Court of Delhi judgement dated 29.01.2024. 4. The period covered by the current investigation is from 01.07.2017 to 31.03.2024. 5. The DGAP has calculated profiteering in respect of project "Panchsheel - Greens, Pebbles and Hynish Tower 10" as follows: - a. Project - Pebbles The ratio of CENVAT/input tax credit to Purchase Value has been worked out as tabulated in Table-A below:- Table (Amount in Rs.) S.No. Particulars Pre-GST Period Post-GST Period 1 Purchase Value of Good and Services (Excluding Taxes and Duties) 23,88,84,239 35,27,09,164 2 Credit of Service Tax availed 2,58,38,422 - 3 Credit of VAT availed - - 4 Total Credit Availed in Pre-GST Period 2,58,38,422 - 5 ITC of GST Availed - 4,14,46,379 6 Ratio of Credit Availed to Purchase Value (in %) 10.82 11.75 Difference (0.93) Based on the figures contained in table-'A' above, the recalibrated base price and the excess realization (profiteering) during the post-GST period, are tabulated in Table-B below:- Table-B Amount ....
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....26,50,341 5 Total Area (in Sq. Ft.) of the project (As per CA Certified details submitted by Respondent) F 1,92,717 6 Total Saving Per Sq. Ft. G = E/F 13.75 7 Total Sold Area before OC (in Sq. Ft.) (As per CA Certified details submitted by Respondent) H 1,92,717 8 Base Profiteered Amount (in Rs.) I = G * H 26,50,341 From above table, it is evident that the Respondent has profiteered an amount of Rs. 26,50,341/- plus GST @ 12% i.e. Rs. 3,18,041/-, totalling to Rs. 29,68,382/-, which needs to be passed on to the 161 eligible flat buyers. c. Project - Greens The ratio of CENVAT/input tax credit to Purchase Value has been worked out as tabulated in Table-A below:- S. No. Particulars Pre-GST Period Post-GST Period 1 Purchase Value of Goods and Services (Excluding Taxes and Duties) 2,05,74,97,198 18,60,75,668 2 Credit of Service Tax availed 18,90,19,247 - 3 Credit of VAT availed - - 4 Total Credit Availed in Pre-GST Period 18,90,19,247 - 5 ITC of GST Availed - 1,99,87,362 6 Ratio of Credit Availed to Purchase Value (in%) 9.19 ....
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.... thereto. We, therefore humbly request that the Hon'ble Tribunal may be pleased to consider the matter on the basis of the records and submissions already available on file". 9. Hearings in the matter were conducted on 13.10.2025, 31.10.2025, 13.01.2026 and 11.02.2026, during which Sh. Suraj Kumar Roy, Additional Assistant Director, and Sh. Ravi Passi, Inspector, appeared on behalf of the DGAP. Sh. Lalit Kumar, Applicant No. 4 with Shri Vinod Gupta, Chartered Accountant appeared in person. Sh. Vijay Pratap Singh, Applicant No. 1 appeared virtually before the Tribunal. While Ms. Seema Tomar, DGM of the Respondent Company appeared virtually on behalf of the Respondent. 10. On the date of final hearing held on 11.02.2026, Ms. Seema Tomar, DGM of the Respondent Company appeared virtually and reiterated the Respondent's email dated 13.10.2025.Applicants namely Shri Lalit Tyagi, Shri Amarendra Pratap Singh, and Shri Akhilesh Kumar Singh have submitted applications seeking withdrawal of their complaints from the present proceedings vide email dated 11.02.2026.Shri Vijay Pratap Singh, Applicant No. 1 appeared through a telephonic call and submitted that he had furnished his reply vid....