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TMI Blog2021 (12) TMI 948X X X X Extracts X X X X X X X X Extracts X X X X ..... so be justified in claiming that the documents relating to such transactions in availing input tax credits are available with the department - However, during the inquiry in the State of Karnataka, so also in Bombay, it revealed that the five firms with whom the applicant has dealt with and has availed input cash credit are not physically in existence as was found on physical verification. As s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra B. Mishra a/w Mr. Dhananjay B. Deshmukh, Advocates for the Intervenor. P.C. 1. The prayer of the applicant for grant of anticipatory bail moved before the learned Sessions Judge in proceeding F. No.V/AE/ MC/TF-II/Swara/89/2021 is rejected vide reasoned order dated 12.10.2021. 2. The applicant has invoked jurisdiction of this Court seeking prayer for anticipatory bail. 3. The case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Crores, then the offence is bailable and same is always subject to the assessment against the applicant in which the show-cause notice is contemplated. He would further urge that in the absence of assessment of the liability as regards the illegal tax credit availed by the applicant, the applicant cannot be taken into custody for custodial interrogation. 5. His further contention is that the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able, however, as the firms with whom the applicant has entered into transactions for levelling such illegal input tax credit, are not in existence. The custodial interrogation is necessary so as to find out who is behind the operation of such fake companies. 7. As such, according to him, custodial interrogation is necessary. 8. Considered submissions. 9. Mr. Merchant is justified in clai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ether such fake firms are in operation. In my opinion, there is substance in the contention of the learned counsel for the revenue, particularly in the verification reports stating that the five firms with whom the applicant has dealt with are not physically in existence. That being so, in my opinion, no case for grant of bail is made out. 12. Hence, the application stands rejected. - - Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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