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2021 (1) TMI 215 - PATIALA HOUSE COURTGrant of Bail - Fraudulent Input Tax Credit - allegation that applicant/accused knowingly participated in receipt of only paper invoices to the tune of ₹ 150 crores without any movement of goods and has fraudulently availed/passed input tax credit of approximately ₹ 7 crores to Government exchequer - HELD THAT:- The economic offences are required to be treated as a separate class and bail cannot be granted as a matter of routine - Applicant/accused is Masters in Business Administration. He is reported to be the sole proprietor of M/s Sri Siddhivinayak Ventures and reportedly raised taxable invoices to the tune of ₹ 150 crores without any movement of goods. During the course of investigation, it was revealed that input tax credit of approximately ₹ 7 crores has been fraudulently availed/passed by M/s Sri Siddhivinayak Ventures. Considering the seriousness of allegations, enormity of charge and the fact that investigation is at crucial stage, the applicant/accused cannot be released on bail - bail application dismissed.
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