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TMI Blog2023 (5) TMI 1183X X X X Extracts X X X X X X X X Extracts X X X X ..... tutory restrictions contained in Special Acts), in economic offences involving the IPC or Special Acts or cases triable by Magistrates once the investigation is complete, final report/complaint filed and the triple test is satisfied then denial of bail must be the exception rather than the rule. However, this would not prevent the Court from granting bail even prior to the completion of investigation if the facts so warrant - Given the fact that the petitioner was arrested on 13.03.2021 and is in custody ever since in a case where the maximum sentence that could be awarded was 05 years, the further incarceration of the petitioner is not required, more so when his co-accused have been granted the concession of regular bail vide order dated 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Email-ids, Phone numbers and PAN cards have been used in all these firms to get the registrations and pass on the fraudulent Input tax Credit (ITC) to various beneficiary firms. No tax has been ever paid in the inward supply chain of these firms and a mechanism has been devised by all these individuals to cover the movement of clandestine goods with fake invoices so that fraudulent ITC could be availed for adjustment against the output tax liability. Further bank accounts given/uploaded at the GSTN Portal of these firms are different than the bank accounts through which money transaction has happened and even parallel and fake bank accounts have been opened to withdraw the cash in some of these firms It is also pertinent to mention that hug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roups is as below:- Sr. No. Name of Person Address Firms Regd. In Punjab Firms Regd. Outside Punjab Total Firms Regd. Tax evaded Remarks 1 Vinod Kumar Street No. 12, Amloh Road, Khanna 3 0 3 7,40,00,287/- 2 Maninder Sharma Gali No. 1, Ward No.4, Nandi Colony, Khanna 2 0 2 6,31,89,852/- In addition, an amount of Rs. 1.99 Crores received from bogus bank A/c of M/s Laxmi Iron Traders 3 Harvinder Singh H.No. 3660, Filligate Jagraon 3 3 6 37,44,56,536/- 4 Sandeep Singh Nabha Coloney No. 01 Khanna, Ludhiana 5 3 8 177,355,995/- 5 Amrinder Singh H.No. 428 Uchha Vehra, GT Road Khanna 7 4 11 22,67,83,552/- 6 Sunny Mehta H.No. C/18 St. No. 3 Jagat Colony Khanna, Ludhiana 4 5 9 26,99,55,692/- 7 Sukhdev Singh Shiva Tower Over Lock Road Near OBC Bank Lud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enied to satisfy the collective sentiments of a community or as a punitive measure. 8. Therefore, broadly speaking (subject to any statutory restrictions contained in Special Acts), in economic offences involving the IPC or Special Acts or cases triable by Magistrates once the investigation is complete, final report/complaint filed and the triple test is satisfied then denial of bail must be the exception rather than the rule. However, this would not prevent the Court from granting bail even prior to the completion of investigation if the facts so warrant. 9. Given the fact that the petitioner was arrested on 13.03.2021 and is in custody ever since in a case where the maximum sentence that could be awarded was 05 years, the further incarcer ..... X X X X Extracts X X X X X X X X Extracts X X X X
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