2023 (2) TMI 978

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....and Service Tax Act, 2017. The prosecution case against the petitioner is that he created fake firms for availment and passing of fake/ ineligiblie Input Tax Credit (ITC) to facilitate existing beneficiary firms. It is alleged that in total, ITC of Rs. 19.65 crores has been availed on the basis of goodsless invoices which is ineligible as per Section 16(2)(b) of the CGST Act, 2017. Learned counsel for the petitioner submits that the petitioner has been falsely implicated in this case and the arrest has been made without determining the tax liability and by wrongfully calculating ITC allegedly availed by the present petitioner. Learned counsel appearing for the petitioner submits that the present petitioner is no way involved in the co....

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....g the goods mentioned therein. It is further contended that the evidence collected so far clearly indicates that the accused is the mastermind in creating fake firms who subsequently defrauded the Government exchequer to the tune of Rs. 19.65 crores, therefore, the bail application may be rejected. Learned counsel for the respondent placed reliance on decision of Hon'ble Apex Court in the case of Lalit Goyal Vs. UOI & Anr. (Special Leave to Appeal (Crl.) No. 3509/2022 decided on 26.08.2022. Learned counsel for the respondent also placed reliance on order passed by co-ordinate Bench of this court in the case of Yashik Jindal Vs. UOI (S.B. Crl. Misc. Bail Application No. 14792/2022) dated 16.12.2022 and submitted that in the case of Vinay Kan....