The matter already stands investigated and the challan stands presented and therefore, custody of the petitioner herein would no longer be required. The instant petition is allowed and the petitioner is directed to be released on regular bail
Section 132 of the CGST Act— Bail —-The petitioner prayed for regular bail in a case registered under Section 132 (1) (c) of the Act, 2017. The petitioner counsel submitted that he was arrested on 10.11.2020 on account of wrong availment of ITC for Rs. Rs. 6.30 crores, even though the petitioner has already reversed Rs. 1.12 crores. There is a challenge to the vires of Section 69 and 132 of the Act, in case titled as Tarun Bassi Vs. State of Punjab and others. The matter already stands investigated and the challan has been presented and therefore, the petitioner will be facing proceedings for wrong availment of ITC. The respondent counsel opposed grant of regular bail. The court observed that the order relied upon the respondent counsel, wherein regular bail had been denied to the petitioner, was primarily on the ground that the investigation was still incomplete. In the instant case the matter already stands investigated and the challan stands presented and therefore, custody of the petitioner herein would not longer be required.
Held that:- The Hon’ble High Court directed the petitioner be released on regular bail on execution of adequate personal/surety bond amounting to Rs. 10 lakhs and on certain conditions.