TMI Blog2020 (2) TMI 793X X X X Extracts X X X X X X X X Extracts X X X X ..... s he has even made some admissions during the course of the investigation and recording of his statements. The issuance of the LOC is a serious matter as it contains full particular of the individual which are sent throughout the world. Therefore, keeping in view the above said facts and circumstances, there is no justification in keeping the present LOC alive. The same is, therefore, directed to be recalled by the issuing authority. The following conditions are imposed on the petitioner : (a) That he shall join the investigation as and when called by the investigating officer. However, the investigating officer shall give him atleast 7 days prior notice. (b) That he shall co-operate in the investigation. (c) That in case the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arrived in India from Dubai and on 27.12.2019, he departed for Dubai without any impediments. However, on 06.01.2020, when the petitioner again arrived from Dubai to India at Hyderabad International Airport for some business meeting then at the time of immigration, the petitioner was informed by the concerned officers to meet with the Income Tax Authorities regarding some pending issues and no other details were given. 3. When on 08.01.2020, after completing his business meetings, the petitioner was leaving for Dubai from Hyderabad International Airport, then at the time of immigration, the petitioner was approached by few officers of Income Tax Department who served the petitioner with the copy of summons dated 08.01.2020 and took him ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nj Lloyd Limited. It is stated that it is the petitioner who had arranged the entities that raised bogus bills for M/s Punj Lloyd Limited in the middle east as stated by Sh. Rahul Maheshwari (CFO, M/s Punj Lloyd Limited). It is stated that the petitioner has helped in tax evasion by facilitating payments against bogus bills and invoices raised to M/s Punj Lloyd Limited by entities based in foreign jurisdiction. 7. It is further stated that in due course proceedings for LOC were initiated against the petitioner U/s 53 of the Black Money And Imposition of Tax Act, 2015 for abetment in tax evasion. The statement of the petitioner was recorded on oath U/s 131 (1A) of the Act on 08.01.2020 and 14.01.2020 and in the statements recorded on oath ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wo countries. 9. It is further submitted by the Ld. Sr. counsel for the petitioner that the petitioner is in India since 06.01.2020 and he was lastly called for investigation on 16.01.2020 and thereafter he has not been called for joining the investigation. He further argued that investigation in respect of the petitioner is over. 10. The Ld. Sr. Standing Counsel for the respondents has argued on the lines of the status report. It is argued that the allegations against the petitioner are grave and serious in nature and he has abetted the evasion of large amount of Income Tax. He further argued that the statements of the petitioner are to be confronted with the promoters of M/s Punj Lloyd Limited and he relied upon Piyoosh Kumar Goy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are to be confronted with the promoters of M/s Punj Lloyd Limited, in my opinion, since the statements of the petitioner have already been recorded, the same can be confronted with the promoters of M/s Punj Lloyd Limited. In the entire status report there is neither any apprehension, nor there is any hint nor any allegation that the petitioner would not be available for interrogation and will not present himself at the time of trial. The Judgment Piyoosh Kumar Goyal (supra) relied upon by the Ld. Sr. Standing counsel for the respondents is not applicable to the facts of the present case as in that case, the petitioner was not co-operating with the investigating agency and has been evasive during the interrogation and he was the main person ..... X X X X Extracts X X X X X X X X Extracts X X X X
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