Court Rules Bail Possible for Economic Offences; No Automatic Denial for Bogus Input Tax Credit Charges Per Section 437(1) CrPC.

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....Grant of Bail - allegation of bogus input tax credit - For the purpose of granting or refusing bail there is no classification of the offences except the ban under Section 437(1) of the Criminal Procedure Code against grant of bail in the case of offences punishable with death or life imprisonment. Hence there is no statutory support or justification for classifying offences into different categories such as economic offences and for refusing bail on the ground that the offence involved belongs to a particular category. - The petitioner is directed to be released on bail subject to conditions - HC....