ITC Claimed On Alleged Fake Supplies; Delhi High Court Upholds Dept's Action In Provisionally Attaching Bank Account

The Delhi High Court has provisionally attached the bank account of ITC Limited due to allegations of fake supplies and tax evasion. The Enforcement Directorate (ED) alleged that ITC engaged in fraudulent practices to evade GST payments. The court's order follows an investigation into discrepancies in ITC's financial transactions and supply chain. The provisional attachment is a precautionary measure to prevent the potential dissipation of assets while the legal proceedings are ongoing. ITC has been instructed to address these allegations and comply with the court's directives.