TMI Blog2018 (7) TMI 1745X X X X Extracts X X X X X X X X Extracts X X X X ..... against Neeraj Jain is a sum of ₹ 12 crore. Therefore, the condition for enlargement of bail to the petitioner on deposit of ₹ 39 crore to the Government Exchaquer through the competent authority is modified to the extent that Sanjay Kumar Bhuwalka the petitioner on condition shall deposit 50% of the evaded amount of ₹ 27 crore - Similarly, the petitioner Neeraj Jain would deposit ₹ 6 crore being the 50% of evaded amount of ₹ 12 crore as a condition to obtain bail - also, the condition of furnishing bond be modified to the sum of ₹ 10 lakh each which can be furnished by way of personal bond to be executed by the petitioners. Bail applications disposed off. - CRM 3327 of 2018 CRAN 1800 of 2018 With CR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 of the Central Goods and Services Act, 2017 providing for compounding the offences and points out that the amount of compounding the offences under this section shall be such as may be prescribed subject to the minimum amount not being less than ₹ 10,000/- or 50% of the tax involved whichever is higher and the maximum amount not being less than ₹ 30,000/- or 50% of the tax whichever is higher. Mr. K. K. Maiti, learned counsel appearing on behalf of the Union of India invites my attention to the provision of Section 49 of the Act which deals with payment of tax, interest, penalty and other amounts. My attention is also adverted to the provision as enshrined in Section 74 of the Act which provides for determination of tax not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il to the petitioner on deposit of ₹ 39 crore to the Government Exchaquer through the competent authority is modified to the extent that Sanjay Kumar Bhuwalka the petitioner on condition shall deposit 50% of the evaded amount of ₹ 27 crore. Similarly, the petitioner Neeraj Jain would deposit ₹ 6 crore being the 50% of evaded amount of ₹ 12 crore as a condition to obtain bail. It is also pointed out by Mr. Basu assisted by Mr. Milon Mukherjee, learned senior advocate for the petitioners that in West Bengal, there is no surety having the strength to extant for surety of the petitioner to furnish bond of a sum of ₹ 50 lakh each. I am of the considered view that this condition of furnishing bond be modified to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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