Denial of bail to assessee as bogus ITC claimed without supply of any physical goods

Rajeev Mishra Vs State of Odisha And Another (Orissa High Court) Conclusion: Considering the nature and gravity of the accusation, the nature of supporting evidence, availability of prima facie case against assessee, coupled with the fact that a huge amount of public money had been misappropriated by availing and passing of bogus ITC, assessee was denied of release on bail. Held:  Assessee and other accused were predominantly engaged in pedalling of bogus input tax credit secured on the strength of fake and fabricated invoices without supply of any physical goods to other such existing and no...