This Court finds that the petitioner has been successful in making out a good case for his release on bail. In the result, the application for bail is allowed.
Section 132 of the CGST Act, 2017— Bail — The petitioner counsel submitted that the petitioner is in custody since 17.08.2020 for the offence punishable under Section 132(1)(i) of the Act, 2017. The prosecution alleged that the petitioner availed fake ITC of Rs. 18.08 crores and passed on ITC worth Rs. 19.78 crores. There was neither any purchase nor sale of goods and that the transactions were made only on paper. The court observed that the petitioner is in custody since 17.08.2020. The investigation ought to be completed within 60 days as per Section 167 Cr.P.C. but more than a year has elapsed from the date of submission of initial P.R. The prosecution has failed to satisfy the court as to how it would be prejudiced by grant of bail to the petitioner.
Held that:- The Hon’ble High Court allowed the bail application subject to certain conditions.
This Court finds that the petitioner has been successful in making out a good case for his release on bail. In the result, the application for bail is allowed.
Section 132 of the CGST Act, 2017— Bail — The petitioner counsel submitted that the petitioner is in custody since 17.08.2020 for the offence punishable under Section 132(1)(i) of the Act, 2017. The prosecution alleged that the petitioner availed fake ITC of Rs. 18.08 crores and passed on ITC worth Rs. 19.78 crores. There was neither any purchase nor sale of goods and that the transactions were made only on paper. The court observed that the petitioner is in custody since 17.08.2020. The investigation ought to be completed within 60 days as per Section 167 Cr.P.C. but more than a year has elapsed from the date of submission of initial P.R. The prosecution has failed to satisfy the court as to how it would be prejudiced by grant of bail to the petitioner.
Held that:- The Hon’ble High Court allowed the bail application subject to certain conditions.