Bombay High Court Grants Bail in INR 314 Cr ITC Fraud Case

Granted bail to the accused alleged of fraudulently availing, utilizing and passing on ineligible ITC of INR 314.25 Cr

Quick Summary

The Bombay High Court has granted bail to an individual accused of fraudulently availing, utilising, and passing on over INR 314 crores in ineligible Input Tax Credit (ITC). The court found that the arrest was made without a formal accusation like a First Information Report or complaint, and that continuing detention at the pre-trial stage was unjustified. The ruling emphasised the principle of 'bail, not jail' for non-heinous offences at this early stage of proceedings.

Court :
Bombay High Court

Brief :

Citation :
Writ Petition No. 471 of 2021, decided on February 15, 2021

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Judgement posted by

Bimal Jain

Service

FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more

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