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2013 (9) TMI 759 - BOMBAY HIGH COURTApplication for release of goods within 30 days from the date of seizure – Condition of application within the 30 days period is mandatory – Held that:- Merely because the petitioners' application for release of the stock was not made to the Assessing Officer within 30 days from the end of the month in which the seizure was made, cannot be held against the petitioners, for the purpose of considering the petitioners application on merits – Decided in favor of Assessee. Applications for release of seized gold to the extent of 5.25 Kgs – Held that:- Assessing Officer shall consider the petitioners alternative prayer made to release atleast 70% to 50% of the seized gold while retaining the balance to meet the existing liability of the petitioners – Partly decided in favor of Assessee.
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