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2013 (6) TMI 554 - HC - VAT and Sales TaxRelease of Seized of goods - whether the tribunal is legally justified in reducing the security of 40% of the estimated value of the goods to twice the amount of tax imposable on the value of the goods so estimated. - held that:- The Act only provides for a maximum of amount of security to be demanded and does not specifies any fixed amount of security. The maximum amount of security demanded is also relaxable at the discretion of the Commissioner/Deputy Commissioner for sufficient reasons to be recorded in writing. Such a decision is even appealable before the tribunal having power to confirm, cancel or vary the order appealed against which, certainly leads to a conclusion that the tribunal is vested with the power to demand lesser amount of security and not to stick at the security of 40% of the estimated value of the goods in directing for release of the same. Tribunal has the authority in exercise of its appellate power to direct for release of the goods on a lesser amount of security than 40% of the estimated value of goods seized. - Decided against the revenue.
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