2021 (7) TMI 233

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.... application under Section-439 of the Cr.P.C. for his release on bail. 3. Mr.A. Pattanaik, learned counsel for the Petitioner submitted that the case against the Petitioner is founded upon the allegations that he had created about ten (10) Firms and was generating fake bills, invoices in the name of said Firms facilitating the availment of the benefit of Input Tax Credit (ITC) without actually supply/ receipt of goods and services which were credited in the name of those Firms in the Bank Accounts and that he in fact was actually handling all those accounts having taken signed blank cheques from said Account-Holders. He further submitted that it is not the case in the complaint that in reality, such proprietors of those Firms were not....

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....e in custody or possession of the Petitioner, there arises no scope of tampering with evidence or influencing the trial. In view of all these above, he urged for grant of bail to the Petitioner as according to him, further detention of the Petitioner in custody would serve no useful purpose and as such is not warranted. 4. Mr. Ch. S. Mishra, Senior Standing Counsel for the CGST opposed the move. Referring to the written objection, he submitted that here the Petitioner is involved in commission of Economic Offences and the materials collected so far reveal that the Petitioner is the kingpin and has defrauded the State Exchequer to the tune of huge amount around Rs. 40.66 crore by availing the ITC simply by managing to have transactions re....

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....n of the Petitioner by the Senior Intelligence Officers of the Directorate General of Goods and Services Tax Intelligence. In course of the same, several documents relating to the business activities of the Firm with other concerned Firms have been collected. The statement of the Petitioner being then recorded, the Officers strongly sensed something fishy and dubious going on in the matter touching the unwanted entitlement and availment of ITC. It is said that ten (10) Firms have been created by hatching conspiracy in carrying out such magnitude of business activities like transfer of goods and services inter se without those taking place in reality and showing fake transactions to be genuine with other financial adjustment as those were as....