9911796707
TMI Blog2024 (12) TMI 1437X X X X Extracts X X X X X X X X Extracts X X X X ..... nally, the same tax liabilities are being sought from both the applicants and other entities, which is legally untenable under the CGGST Act, Section 132(c), as no end users or beneficiaries have been implicated, showing a clear failure of the investigative process, the applicant is languishing in jail since 22.06.2024 and the charge-sheet/complaint has been filed, the conclusion of the trial is likely to take some time, hence, without commenting anything on merits of the case, it is required to grant regular bail to the applicant. The applicant is granted bail subject to fulfilment of conditions imposed - bail application allowed. - HON'BLE SHRI RAMESH SINHA CHIEF JUSTICE For Applicant: Mr. Shevendu Pandya, Advocate, as well as Mr. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the alleged fraudulent transactions. The prosecution has failed to demonstrate any recovery efforts made from other involved parties, further indicating that the investigation is still ongoing. This raises concerns that Ishan Gupta may have been falsely implicated in a politically motivated case, as there is no solid evidence or independent verification of his involvement in the fraudulent activities. The absence of complete information and the premature filing of the charge-sheet strongly suggest that the accusations against him are based on assumptions rather than facts. Hence, this application. 3. Learned counsel for the applicant submits that the applicant is innocent and he has been falsely implicated in this case. He further submits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt has failed to investigate or seize the accounts of the actual beneficiaries in the down-chain, while the applicant's bank accounts were seized even before any summons were issued, additionally, the same tax liabilities are being sought from both the applicants and other entities, which is legally untenable under the CGGST Act, Section 132(c), as no end users or beneficiaries have been implicated, showing a clear failure of the investigative process, the applicant is languishing in jail since 22.06.2024 and the charge-sheet/complaint has been filed, the conclusion of the trial is likely to take some time, hence, without commenting anything on merits of the case, I am inclined to grant regular bail to the applicant. Accordingly, the ba ..... X X X X Extracts X X X X X X X X Extracts X X X X
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