HC : Rejects anticipatory bail application for alleged offence of circular trading & false E-way bills

HC rejects anticipatory bail petitions in respect of alleged offence punishable u/s 132 of CGST Act, 2017, while noticing that outward and inward supply of goods were fraudulently shown without actual movement of goods on the basis of false and bogus E-way bills; Noting, that entities formed a cartel by doing circular trading between 7 companies whereby nearly 98% of transactions were among themselves, finds that, transactions were done only with a view to defraud the Revenue...