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2016 (12) TMI 1150 - ALLAHABAD HIGH COURTRelease of confiscated goods - discrepancies found in stock of dry chilly - order of release of the goods without security by Tribunal - is Tribunal justified in doing so? Held that: - The discrepancy was explained by the respondent assessee but the explanation was found to be unsatisfactory by the Mobile Squad Authority. The stand of the assessee that no discrepancies whatsoever was found in his books of accounts, is the matter to be examined at the time of penalty proceedings, if any, or at the time of assessment proceedings. However, it can not be said that there was absolutely no material before the Mobile Squad Authority to seize the goods and to demand security - therefore, ends of justice should be better served if the goods are directed to be released on deposit of the security in the form of other than cash or bank guarantee for an amount equivalent to the amount of tax as may be involved with respect to the seized goods. Goods to be released on payment of security - appeal disposed off - decided partly in favor of respondent-assessee.
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