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HC refuses bail in case of alleged Fake ITC exceeding Rs. 5 Crore
Case Law Details
- Case Name
- Yogesh Jagdish Kanodia Vs State of Maharashtra (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Yogesh Jagdish Kanodia Vs State of Maharashtra (Bombay High Court)
Conclusion: Where Input Tax Credit (ITC) had been wrongly availed exceeds Rs.5 crores it would amount to a cognizable and non-bailable offense and the offence was punishable with imprisonment for a term, which could extend to five years and with fine under section 132 (1) (i) of the CGST Act.
Held: The respective authority proceeded against assessee on the basis that he had committed offence under section 132 (1) (b) (c) of the CGST Act and that since the input tax credit wrongly availed by assessee exceeded ...
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