HC : Denies bail in case involving fraudulent ITC claim of Rs. 225 crores on bogus trading

Apr 26,2019

HC dismisses batch of writ petitions, denies bail against arrest ordered u/s 69 (1) of CGST Act, 2017,  where assessee was found guilty of circular trading by claiming ITC to tune of Rs. 225 Crores on bogus trading of Rs. 1,289 crores; Rejecting assessee’s plea that, there is no necessity to arrest a person for alleged commission of an offence which is compoundable, opines that even we allow the assessee to apply for compounding, they may not have a meeting point ...

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