TMI Blog2021 (2) TMI 555X X X X Extracts X X X X X X X X Extracts X X X X ..... ccused was released on bail upon depositing 10% of total liability and in present case more than 10% has been deposited therefore, the present accused persons be released on anticipatory bail however accused appears to be knowingly used fake ITC in commission of offences. The offences caused grave economic loss to exchequer and this practice appears writ large in business community. The offence of fake ITC bill u/s 132 is not dependent upon the adjudication proceedings. Considering the seriousness of offence and the modus operandi in commission of said offence and the fact that it caused grave economic loss to exchequer, the applicants/accused Pawan Goel and Sushil Goel are not entitled to be released on anticipatory bail hence the prese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n address. From the statement of one Triyubi Narain Dube, Mahesh Aggarwal and Khushnaseeb, it appeared that M/s Delta Agrotech has not supplied the goods namely copper wire, copper scrap, nickel cathode, etc. It is also transpired that all these three witnesses had no knowledge about physical supply of various types of scraps, ingots, yarn, etc by M/s Delta to KMG and this fact is also found in respect of Galus International and Shriram Overseas. It also appeared during investigation that the transporter M/s Everest Road Lines exists only on paper. The investigation in this case led to the origin of fake invoices and layer by layer of firms was revealed, and it is found that the abovementioned firms have issued only paper invoices to M/s KM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngness to deposit ₹ 2.5 crores which is accepted by the department but despite this, informed the bank that accused company may be permitted to debit to the extent of disbursal of salary /wages of 70 persons. The co-accused has already been released on bail. No show cause notice has been issued and no final assessment taken place therefore, accused could not be arrested (relied upon Make My Trip Vs. UOI 2016 (44) STR 481 (Delhi)). Ld. Counsel for accused submitted that the accused company is a 40 year old company having business more than ₹ 250 crores and the accused persons are respected citizens doing business fairly and number of employees are dependent upon them. The applicants/accused are ready to 3cooperate in in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Punj Vs. Commissioner of CGST 2019 24 GSTL 321 Rajasthan . Ld. Counsel submits that Punjab and Haryana High Court in case titled Vikas Goel Vs. DD DGGST 2019 (18) GSTL 590 (P H) also not granted bail considering the serious nature and gravity of offence, and that accused is charged for economic offence. Ld. SPP submits that C. Pradeep case is only an ad interim order and does not lay down any proposition of law. Ld. SPP submits that offence is very serious, have an adverse impact on the economy of nation therefore accused is not entitled to be released on anticipatory bail. Heard. The present accused were found to be the directors of accused company. Though it is submitted in bail application that accused Sushil Goel do not play ..... X X X X Extracts X X X X X X X X Extracts X X X X
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