9911796707
TMI Blog2022 (7) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... thereafter, complaint before the court concerned is filed. The entire case is based on documentary evidence and same has been seized by the department. In such circumstances, merely an offence is termed as economic offence , it would not mean that in every case bail needs to be denied. Whether bail is granted or not, it always depends on peculiar facts of each case. In the facts of the present case, more particularly fact that after filing the complaint, there is no progress in the trial proceedings and considering the cases of the court concerned, the trial of the case will take considerable time. The applicant is in custody since 26.11.2021 and he having no any past antecedent of like nature and there is no possibility of he being fle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were carried out and during the investigation, it was found that 22 suppliers of M/s Bright Corporation were found non-existence or non-operational at their registered premises and they have supplied only invoices without actual supply of goods having ITC value of Rs.17.65 crores and entire transaction on paper. It further reveals that in chain of supply of ineligible ITC, received by M/s. Bright Corporation, which was further passed on M/s. Arihant Metal Company and in turn, it was passed on M/s. Rajat Metal Corporation. The investigation further reveals that present applicant Nirav Samson Gohil being an active partner of the firm, involved in management/rotation of cash flow in this fake invoice chain. In short, it is the case of the dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted that the allegations leveled against the applicant are false and frivolous and applicant has not at all availed and utilized the ITC as being alleged fraudulently. In this context, it was further submitted that the applicant is inactive partner of the firm and the entire business is being looking after by his father Samson Gohil and therefore, he being a partner of the firm, has been falsely arraigned in the alleged offence. He further submitted that the investigation is completed on 30.11.2021. The department issued demand notice under Section 74 of the Act and thereafter, complaint before the competent court is filed. In such circumstances, learned counsel submitted that the applicant is in custody since 26.11.2021, applicant does ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contentions raised on behalf of the learned counsel for the applicant and reiterating the facts of the affidavit filed by the officer of the Department, contended that the amount of tax evasion is of Rs.17.65 crore. The applicant is involved in economic offence, which is serious in nature and the offence is cognizable and not bailable and therefore, the applicant being a mastermind of the whole scam, he is not entitled for bail. 10. In support of aforesaid contentions, the learned Standing Counsel relied on the case laws i.e. Nimmagadda Prasad Vs. CBI (2013) Law Suits SC 416, to submit that the economic offences constitute at class apart and need to be visited with a different approach in a matter of bail. 11. In the aforesaid co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s an aspect which is required to be kept in view by the Court. The gravity for the said purpose will have to be gathered from the facts and circumstances arising in each case. Keeping in view the consequences that would befall on the society in cases of financial irregularities, it has been held that even economic offences would fall under the category of grave offence and in such circumstance while considering the application for bail in such matters, the Court will have to deal with the same, being sensitive to the nature of allegation made against the accused. One of the circumstances to consider the gravity of the offence is also the term of sentence that is prescribed for the offence the accused is alleged to have committed. Such con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved by keeping the applicant behind bar, thus, present application is allowed and he is ordered to be released on bail. 15. Hence, the applicant is ordered to be released on regular bail in connection with the File No. DGGI/AZU/Gr.D/12(4)72/2018-19, on executing a personal bond of Rs.10,000/- (Rupees Ten thousands only), with one surety of the like amount to the satisfaction of the learned Trial Court and subject to the conditions that he shall: No. Conditions (a) not take undue advantage of liberty or misuse liberty; (b) not act in a manner injuries to the interest of the prosecution; ( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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