2022 (2) TMI 135

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....Ward No. 9, Panipat. During enquiry, it was found that M/s Paras Enterprises, Panipat and certain other fake firms were created for claiming bogus Input Tax Credit (for short, 'ITC'). They were utilizing 'C' forms cancelled by the Excise and Taxation Department. In the enquiry, it transpired that M/s Ambika Traders, Panipat, a proprietorship concern of Rahul, got itself registered with the date of liability from 1.4.2017. Neither the proprietor nor the concern could be traced on the given address. Mobile number mentioned in the registration certificate application was of one Deepak. No returns were filed by the concern during 2017-2018 but used 'C' forms worth Rs. 54.74 crores in first quarter. The record from the E....

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....n of learned counsel for the State refutes the contention raised by learned counsel for the petitioner that the petitioner was an Advocate rendering his legal services. It is submitted that Vakalatnama (Power of Attorney) filed for getting registration of Ambika Traders was in the name of Advocate-Rupali and she denied to have executed or filed any Vakalatnama on behalf of Ambika Traders. It is further submitted that the petitioner used the mobile number of his brother for getting the firm registered. Surety furnished of M/s Mangal International for getting registration was forged, as the person concerned in his statement before the police stated that his documents and IDs were mis-used by the petitioner without his permission. She further....

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.... huge loss of public funds need to be viewed seriously and considered as grave offences affecting the economy of the country as a whole and thereby posing serious threat to the financial health of the country. 35. While granting bail, the court has to keep in mind the nature of accusations, the nature of evidence in support thereof, the severity of the punishment which conviction will entail, the character of the accused, circumstances which are peculiar to the accused, reasonable possibility of securing the presence of the accused at the trial, reasonable apprehension of the witnesses being tampered with, the larger interests of the public/State and other similar considerations." In the present case, the allegations are of creating bogu....