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2023 (10) TMI 642 - PUNJAB AND HARYANA HIGH COURTGrant of regular bail - monetizing ITC availed fraudulently - quantum of punishment - HELD THAT:- The statutory provision u/s 132 states that the maximum punishment provided is five years. The petitioner has already completed an incarceration of more than one year. The veracity of the allegations and counter-allegations would be assessed by the trial Court on the basis of the evidences to be led by both the sides and thus, this Court would refrain from commenting anything on the merits of the case. However, confining itself only to the prayer made by the petitioner for grant of bail, this Court is of the opinion that learned counsel for the petitioner succeeds in making out a case for grant of regular bail. The present petition is allowed and the petitioner is ordered to be released on bail on his furnishing bail/surety bonds to the satisfaction of the concerned trial Court/Duty Magistrate.
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