The Punjab and Haryana High Court granted the interim bail to the person accused of wrongfully availing Input Tax Credit (ITC).
Mr. Sanjay Kaushal, Sr. counsel has at the outset categorically stated that the petitioner, Rakesh Hanuman Prasad has volunteered to deposit half of the disputed amount with the GST Authorities subject to the final adjustment within a period of ten days. He has further submitted that the entire case is based upon documentary evidence and all the documents are already available with the police/SIT and it is a case where the allegation against the petitioner was that he had evaded input tax credit facility by forging various documents or vouchers of various other companies. Learned counsel has submitted that as per the prosecution, the total liability of the petitioner turns out to be Rs.2.5 crores and the petitioner has volunteered to deposit half of the amount within ten days subject to final adjustment. He submitted that the petitioner is ready and willing to join the investigation and, therefore, no useful purpose will be served in case the custodial investigation is done by the police and the petitioner will abide by the conditions and shall also fully cooperate with the investigation process.
The single bench of Justice Jasgurpreet Singh Puri directed that the petitioner shall join the investigation and shall fully cooperate with the investigation process and on his doing so, the petitioner be released on interim bail subject to his furnishing personal bonds and surety to the satisfaction of Arresting/Investigating Officer. However, the petitioner shall continue to join the investigation as and when called upon to do so and shall abide by all the conditions as provided under Section 438(2) Cr.P.C. It is further directed that the petitioner shall forthwith deposit his passport, if any, with the SIT.
“Needless to say that in case the petitioner violates any of the conditions imposed by this Court then the State shall always be at liberty to file appropriate application before this Court even before the next date of hearing,” the court said.
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