TMI Blog2023 (8) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... minary investigation have revealed that the 14 parties from whom the Petitioner has purchased the goods, are not in existence and, therefore, there is a question mark whether if at all the goods have been received or not. The Respondents are investigating the entities/persons from whom the Petitioner has purchased the goods and as of today, they have found 14 parties who are fictitious. The amount of alleged ITC and the purchases made by the Petitioner are substantial and which is under investigation by the Respondents. It is informed that the Respondents would issue a show cause notice after completing their investigation. The Petitioner has not made out a prima facie case for grant of any interim relief. Furthermore, attachment of O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000483800001641 3 Bombay Mercantile Co-operative Bank Ltd. 013110100082945 2. Immediate concern of the Petitioner, as per the interim relief sought in the petition, is with regard to the provisional attachment of overdraft account with Kotak Mahindra Bank which according to the Petitioner, could not have been attached. In the order dated 18th April 2023 passed this Court it was recorded that the Petitioner would attend the office of the concerned Commissioner as regards permission to operate the overdraft account. The matter was hence, listed on 21st April 2023 under the caption For Directions. On 21st April 2023, this Court was informed that the Petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner s business has come to a standstill. The Petitioner can operate this account for running his business. 7. The Petitioner, in his statement before the Respondents, has admitted that the Input Tax Credit (ITC) has been wrongly availed and undertook to reverse ITC by 30th June 2022. However, the Petitioner has not reversed the ITC till today. We have not been shown any document which would demonstrate that the statement made was under coercion or force. Be that as it may, the Petitioner is free to reverse the ITC if it so desires. We may also note that the Petitioner had made an application for anticipatory bail apprehending arrest on account of investigation being conducted by the respondent and the said anticipatory bail has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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