Will the compromise formula compensate the government for damages? | Will the compromise formula compensate the government for damages?

The anticipatory bail plea filed by orphanage president Yunus Chakkiwala to avoid police arrest in the Rs 28 crore bogus billing case is now likely to be decided on June 28. After the arguments of the defense side, it was argued by APP Umesh Patil for the government side that despite the talk of settlement between the complainant and the accused, the issue of compensation of the ITC loss to the government is still in front.

It is to be noted that even after the out of court settlement between the complainant and the accused, the attitude of the court has been strict regarding the loss of revenue to the government. In this case, an export of 28 crores has been shown and an ITC of Rs 1.87 crore has been taken against it. The Income Tax Department has also charged Rs. A notice to pay tax on transactions worth 28 crores has been issued. So the whole matter is now connected with the government’s tax.