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TMI Blog2016 (11) TMI 1263X X X X Extracts X X X X X X X X Extracts X X X X ..... ent ORDER ( Per : Honourable Mr. Justice Akil Kureshi ) 1. The petitioner has prayed for a direction to lift the attachment on the goods lying in the warehouse of M/s Edelweiss Integrated Commodity Management Limited, located at Rasana Mota, Taluka:Deesa, District:Banaskantha. Such goods are in the nature of Castor Seeds and were detained by the State VAT authorities under an order dated 19.12. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... misdemeanors, the goods cannot be released without securing the interest of the Revenue. 4. Undoubtedly, the petitioner has approached the Court leaving little time to respond to present full picture before the Court. Diwali vacation is fast approaching. Under the circumstances, the request for release of goods cannot be granted without fully protecting the interest of the Revenue. In this respe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated the possible tax, interest and penalty liabilities arising out of such discrepancy in the stock. According to this statement, considering the basic tax, interest and penalty at the maximum rate of 150% of the tax comes to Rs. 1,54,36,314/. He was offered the release of the goods if he was willing to pay such amount. Since he refused to do so, the goods were not released. In the statement, he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is disposed of with the direction that if the petitioner gives the bank guarantee from a scheduled bank to the department of sum of Rs. 1.55 crores to be recovered by the department with the tax when interest and penalty liabilities are crystallized, the goods lying in the warehouse of M/s Edelweiss Integrated Commodity Management Limited shall be released. 7. Petition is disposed of accordingly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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