9911796707
TMI Blog2025 (3) TMI 1032X X X X Extracts X X X X X X X X Extracts X X X X ..... nion of India that the account of M/s Shreeji Metals was attached vide order dated 07.10.2024, but subsequently, it was liberated vide order dated 08.11.2024, Annexure-2 appended with the supplementary affidavit dated 22.01.2025. Admittedly, the alleged offences are triable by Magistrate and provide for a maximum punishment of five years imprisonment, and trial is likely to consume considerable time to conclude, therefore, this Court has no hesitation in holding that the further detention of the applicant behind the bars would not serve any useful purpose, who is confined in judicial custody. Further, the prosecution witnesses are official witnesses and presently there does not appear to be any possibility of their being won over, therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no supplies were made against those invoices, and Input Tax Credit passed by these fake firms is inadmissible to recipient. As per the complaint activities of three supplier firms namely M/s MG Wire Udyog, M/s Shiv Wire Udyog, M/s Hanumant Enterprises, were found suspicious and upon verification the said firms were found to be non-operational. These firms had passed on Input Tax Credit of Rs. 7, 93, 89, 497/- to M/s Shreeji Metals. Similarly, another firm namely M/s Durga Industries operated by Devendra Kumar Jain had also passed on Input Tax Credit of Rs. 1.31 crores to M/s Shreeji Metals, and after arrest of Devendra Kumar Jain, a complaint against him was filed on 23.4.2024 in Court of Special CJM (Economic Offences), Meerut. Through th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rajput in creation of the firms and running their business activities. As per the complaint, Mayank Kumar Rajput and Ankit Rajput also got their statements recorded on 24.10.2024, who revealed that they worked in partnership with Vikrant Singhal to create 18 fake firms by using IDs of other persons, and the amount credited in the accounts of the fake firms by beneficiary firms was further credited in some other bank accounts for cash generation, after deducting commission. Later on, involvement of five more firms namely Vaibhav Industries, Shivam Wire and Cable Company, GJ Wire Industries, M/s R.P. Wires and M/s Citrix Enterprises surfaced and the investigation indicated that M/s Shreeji Metals in total availed ineligible Input Tax Credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Industries, there is no other evidence collected during investigation to suggest the commission of alleged crimes. Learned Senior Counsel has further argued that as per the complaint 17 fake firms were found to have facilitated the availment of Input Tax Credit to M/s Shreeji Metals, but in the subject complaint only applicant has been shown to be an accused. According to the learned Counsel, Devendra Kumar Jain, proprietor of M/s Durga Industries is also shown as operator of a fake firm, and the complaint against him was filed separately on 23.04.2024 for commission of similar offences and the said accused has already been released on regular bail by this Court vide order dated 29.05.2024. He has produced the copy of the order passed in C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 07.10.2024, but subsequently, it was liberated vide order dated 08.11.2024, Annexure-2 appended with the supplementary affidavit dated 22.01.2025. It is also revealed by the learned Counsel of Union of India that the alleged availment of ineligible Input Tax Credit pertains to the transactions for the financial year 2022- 23, and the proceedings for the recovery of tax have not yet initiated against the applicant, as even the notices for assessment of tax contemplated by Section 74 Goods and Services Tax Act, have not been issued. Notably, after the arrest of the applicant, he was associated in investigation and later on, he was sent in judicial custody and finally after completion of investigation the complaint/charge-sheet was filed a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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