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TMI Blog2022 (1) TMI 750X X X X Extracts X X X X X X X X Extracts X X X X ..... receipt and supply of goods on the strength of fake invoices issued in the name of non-existing suppliers which could be revealed after extensive investigation. The allegation is also to the effect that the petitioner in collusion with other accused persons were involved in operation of fictitious firms and availed bogus ITC of ₹ 4.16 crore and passed on ITC for an amount of ₹ 47.99 crore. No doubt, the materials on record prima facie suggest the involvement of the petitioner and others in engaging themselves in activities whereby bogus ITC was claimed on the strength of fake invoices without physical receipt and supply of goods and also passed on to others. In other words, all the necessary materials which are required to prosecute the petitioner can be said to have been substantially collected during investigation. The petitioner happens to be a local inhabitant of Bhubaneswar. Being a permanent resident of Bhubaneswar, the Court is of the view that there is a less chance of petitioner absconding or fleeing from justice. Since reasonably sufficient material evidence appears to have been gathered and taking into account the period of detention and the fact that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther claimed that the so called proprietors of some firms were traced in Kolkata and interrogated but all were found to be individuals of no means and are daily wage earners. It is alleged that the petitioner misutilised the identity documents of said persons for the purpose of registration and in respect of remaining firms, the proprietors are not traceable and the residential addresses declared found to be fake and therefore, steps are currently being taken to trace them out to ascertain the extent of tax fraud committed. 4. The learned counsel appearing for the petitioner, in reply to the charges, contended that services have been provided to the clients and all transactions are maintained in the bank accounts, details of which have been submitted to the department but without examining the same properly, action has been taken. It is further contended that other accused persons are also involved yet the petitioner has been roped in without any basis being the proprietor of the firm and in so far as bogus ITC is concerned, it is an inflated figure and that apart, there is no material on record to suggest that he is directly involved. It is lastly contended that the offence eve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the following factors, such as,(i) the nature of accusation and severity of punishment in case of conviction and nature of materials relied upon by the prosecution;(ii) reasonable apprehension of tampering with evidence;(iii) possibility of securing the presence of accused at the time of trial or the likelihood of his abscondance etc. besides larger interest of the State and similar other considerations and as such, there is no hard and fast rule for grant or refusal of bail which always depends on the facts and circumstances of each particular case and in that regard, discretion has to be exercised judiciously and not in an arbitrary manner. In Kalyan Chandra Sarkar Vs. Rajesh Ranjan and another reported in (2004) 7SCC 528 , the Supreme Court held and observed that though an exercise of detailed examination of evidence and elaborate documentation on merits of the case is not to be resorted to, but a responsibility is cast upon the courts to indicate in such orders reasons for concluding why bail was being granted especially when the accused is charged of a serious offence. From the side of the opposite party, learned Senior Standing Counsel appearing for them relied upon eq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made to understand, the petitioner being the proprietor of a fictitious firm availed passed on bogus ITC without physical receipt and supply of goods on the strength of fake invoices issued in the name of non-existing suppliers which could be revealed after extensive investigation. The allegation is also to the effect that the petitioner in collusion with other accused persons were involved in operation of fictitious firms and availed bogus ITC of ₹ 4.16 crore and passed on ITC for an amount of ₹ 47.99 crore. The details of the documentation regarding the alleged transactions have been unearthed during investigation. The conclusion which has been drawn by the investigating agency is entirely based on documents which are shown to have been seized during and in course of investigation. No doubt, the materials on record prima facie suggest the involvement of the petitioner and others in engaging themselves in activities whereby bogus ITC was claimed on the strength of fake invoices without physical receipt and supply of goods and also passed on to others. In other words, all the necessary materials which are required to prosecute the petitioner can be said to have been su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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