The four accused used common email-ids, phone numbers and PAN cards to get registrations and made fake invoices to pass on the fraudulent Input tax Credit to various beneficiary firms. (Express file photo)The Punjab and Haryana High Court (HC) on Wednesday granted bail to four people in Rs 122 crore tax-evasion case. The four accused had formed a network of 40 fake firms to evade tax and defraud the state exchequer. They used common email-ids, phone numbers and PAN cards to get registrations and made fake invoices to pass on the fraudulent Input tax Credit (ITC) to various beneficiary firms. The bank accounts details mentioned in the GSTN portal of these firms were different from the bank accounts they used for transaction. Also fake bank accounts were opened to withdraw cash.
While hearing the bail plea, Justice Jasjit Singh Bedi cited Supreme Court and HC judgments and held that since the grant or refusal of bail lies in the discretion of the court, it will be exercised with regard to facts and circumstances of each case.
However, bail is not to be denied to satisfy the collective sentiments of a community or as a punitive measure. “Therefore, broadly speaking (subject to any statutory restrictions contained in Special Acts), in economic offences involving the IPC or Special Acts or cases triable by magistrates once the investigation is complete, final report/complaint filed and the triple test is satisfied then denial of bail must be the exception rather than the rule.