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2019 (4) TMI 1760 - HC - Income TaxRelease of goods seized - goods, which have been seized are custom paid goods duly cleared by the Custom authorities - HELD THAT:- We have given several opportunities to the other side to confirm as to whether or not the goods were custom paid, especially after the averments made in paragraph 44 of the Rejoinder Affidavit. We have also verified these questions again; two things are clear; that the Gold Dore Bars, which have been seized were stock-in-trade of the petitioner and have been imported as raw materials and also; that the goods were custom cleared and duty paid. This fact is not denied by the respondent-department. Therefore, goods may now be released to the petitioner. As an interim measure, it is directed that the goods of the petitioner may be released after proper verification and identification of the goods to the satisfaction of the authority concerned within next ten days without demanding any security. On all other facts, it will be open to the authorities concerned to proceed against the petitioner in the regular assessment proceeding in accordance with law. Admit. List for hearing in due course. A detailed counter affidavit may be filed by the Department.
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