2020 (11) TMI 747

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nating evidence against the applicant in this case is the statement of one Hanuman Singh. No recovery has been effected or going to be effected from the applicant, as the alleged allegations pertain purely to the documentary evidence. The maximum punishment liable to be granted for the offences under consideration is 5 years. The applicant has been allegedly roped in vicariously for the commission of offence by other persons, whereas there is no concept of vicarious liability under the Goods and Services Tax Act. 3. The Ld. Counsel for the applicant has further contended that the aforesaid Hanuman has been made an accused in an FIR No. 38 dated 6.01.2019 under Sections 420, 467, 468 & 471 of IPC, P.S. Chandni Bagh, Panipat for running a ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s. In this manner, the applicant was so far found involved in issuing invoices valued at Rs. 75 Crores without any movement of goods and was also involved in passing of ITC to the tune of Rs. 13.08 Crores and, thereby causing a loss to the Government exchequer to the tune of Rs. 13.08 Crores. The offence being economic in nature affects the society at large and, therefore, no concession of bail be granted to the accused at this stage because not only the investigation in the matter is pending. It is also pertinent to point out that the above mentioned Hanuman has gone missing and in this regard the present applicant was called by the concerned police for the purpose of investigation on a number of occasions. With these submissions, the Ld. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....evidence may not be possible in each and every case. Since the transactions in questions have been carried out for the last few years, it is natural that investigating agency needs more time to dig out all the relevant record in the case. 9. It has been held by the Hon'ble Superme Court of India in the case of Ram Narain Popli Vs. CBI (AIR 2003 SCC 3257) that: "an economic offence is committed with cool calculation and desperate design with an eye on personal profit regardless of the consequences to the community". Similarly, upholding a stringent dealing with the economic offences, the Hon'ble Supereme Court of India in the case of SFIO Vs. Nitin Johari & another (Crl. Appeal no. 1381/2019 date of decision 12.09.2019) has ma....