SUMIT GUPTA Vs. UNION OF INDIA

JUDGEMENT

(1.) This bail application has been filed on behalf of the petitioner, namely, Sumit Gupta @ Sumit Kumar Gupta with prayer to release him on bail in connection with Complaint Case No.1280 of 2024 registered under Sec. 132(1)(b), 132(1)(c) and Sec. 132(5) of the Central Goods and Services Tax Act, 2017, pending in the Court of learned Additional Chief Judicial Magistrate, Special Court, Economic Offences, Jamshedpur.

(2.) Mr. Nitin Kumar Pasari, learned counsel appearing on behalf of the petitioner has submitted that as per the allegations made in the prosecution report under Sec. 167 of the Code, the petitioner being an individual is involved in creating fake companies/ firms and appointing their Directors/ Partners/ Proprietors, who is further involved in passing on the inadmissible Input Tax Credit and for which almost Rs.522.91 crores has illegally been passed on as inadmissible Input Tax Credit of Goods and Services Tax making huge loss to the Government Exchequer and the petitioner has been declared to be the mastermind in creating the same.

(3.) Aggrieved and dissatisfied by the aforesaid action of the respondent, the petitioner has preferred Bail Petition No.318 of 2024 before the learned Principal District and Sessions Judge, East Singhbhum, Jamshedpur, which has been rejected vide order dtd. 13/5/2024.