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TMI Blog2023 (7) TMI 1295X X X X Extracts X X X X X X X X Extracts X X X X ..... various ways. Considering the consequences of such economic offences that would befall the society, the offences have been held to be of distinct class and under the category of grave offences. Such offences, which affect the financial health of a country need to be investigated thoroughly. In the instant case, the affidavit filed on behalf of the Department reveals that the Applicant has not co-operated with the investigation. He has failed to disclose the e-mail id and the password. He has also failed to hand over the mobile phone, which was registered with the bank. Hence, the mere statement of the Applicant that he is ready and willing to co-operate with the investigation does not serve any purpose. The nature of the offence, necessita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplicant, the Director of Photo Com Industries (India) Pvt. Ltd., engaged in the business in photographic items, electronics and home appliances products, computer parts and accessories, mobile phones and accessories, and other general items as per the customers requirements. The co-accused Priyesh Kumar stated that he had neither received the goods from the suppliers nor supplied the same to the buyers. He had issued invoices at the instances of the Applicant and that he was paid commission @ 2% to 3% of the value of such transaction. 3. In view of the voluntary statement made by Priyesh Kumar, summons came to be served to the Applicant under Section 70 of the GST Act. Apprehending his arrest, the Applicant filed an application for pre-arr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year 2019. Mr. Priyesh Kumar has allegedly availed fraudulent ITC since the year 2018 i.e. much before he was inducted as a Director in Photokom Industries. He submits that the Applicant was never involved in day to day working of M/s. Amarnath Enterprises or with the management of M/s. Amarnath Enterprises. Hence, the observations of the learned Sessions Judge that M/s. Amarnath Enterprises was established at the instance of the Applicant, are totally erroneous. 6. Learned Counsel for the Applicant further submits that the Applicant is in no way associated with M/s. R.S. Industries and M/s. Shiv Enterprises. He submits that on receipt of the summons under Section 70 of the CGST Act, and pursuant to the interim bail granted by the Sessions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts. It is alleged that total fake ITC availed and passed on in M/s. Amarnath Enterprises works out to Rs. 27.79 Crores. However, no tax recovery could have been made to the Government. Said Priyesh Kumar was summoned and in his statement recorded under Section 70 of the CGST Act. He has stated that he had established M/s. Amarnath Enterprises at the instance of the Applicant on his pan and registered himself with GST. 10. The statement of Priyesh Kumar reveals that the Applicant had also facilitated in establishing other fictitious and fake entities. M/s. R.S. Enterprises registered in the name of Rohan is one such non-existent entity registered in the year 2018. The principal place of business of the said entity was not rented to him and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is undisputedly in the name of the Applicant, was registered in the bank in respect of the account of M/s. Amarnath Enterprises from 16.08.2018 till 7.11.2019, i.e. even before Priyesh Kumar was inducted as a Director of Photokom Company. This fact prima facie suggests that the Applicant had access to the bank account of M/s. Amarnath Enterprises. The Applicant had also given his e-mail id in respect of the account of Amarnath Enterprises. 14. The above facts and circumstances prima facie indicate that the Applicant is involved in the said crime. Suffice it to say that such economic offences have long term and far reaching ramifications on the financial health of the country and affect the national interest at large in various ways. Conside ..... X X X X Extracts X X X X X X X X Extracts X X X X
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