🔓 Bail Granted in ₹54 Crore Fake ITC Case Due to Lack of Evidence! 🔓

In Gyaan Chandra Jaiswal vs. Union of India, the Jharkhand High Court granted bail to the petitioner accused of creating fake firms and availing ₹54.33 crore of fraudulent Input Tax Credit (ITC) under Sections 70 and 132 of the CGST Act, 2017. ⚖️💼

➡️ The Court observed that despite allegations based on witness statements, the prosecution had not provided sufficient documentary evidence to support the claims. 📄❌

➡️ The petitioner has been in jail since 25th June 2024, and the court noted that the trial is unlikely to conclude soon. Additionally, there was no risk of tampering with evidence or flight. ✈️🚫

✅ Outcome: The bail was granted with a bond of ₹1,00,000 and two sureties, allowing the petitioner to be released with conditions. 💰🔓