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TMI Blog2017 (4) TMI 1115X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of goods upon deposit of 15% of its value in the form of cash security/bank guarantee. The value of goods determined by the authorities at Rs. 22,00,000/- has been brought down to Rs. 8,80,000/-. This order of Tribunal was challenged by the transporter in Revision No.131 of 2017 (M/S Gaurav Logistic Carrier, Delhi Vs. Commissioner of Commercial Tax, U.P. Lucknow), which has been dismissed vide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essed at Rs. 22,00,000/-. In appeal, the valuation of goods is brought down to Rs. 8,80,000/-, and deposit of cash security/bank guarantee is also reduced from 40% to 15%. Learned counsel for the revisionist submits that material did exist on record to show that the transported granules were valued at Rs. 40 per Kg., and the Tribunal wrongly assessed it at Rs. 50 per Kg. It is also stated that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 per Kg. The tribunal on the other hand has taken the price to be Rs. 50 per Kg. Such determination of rate cannot be said to be wholly without any basis. According to the department, the goods were to be unloaded in the State of U.P., and that is why false description was given in TDF etc. Considering the facts and circumstances brought on record, this Court is of the opinion that interest of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n order passed in penalty proceedings. Considering the facts and circumstances, as have been brought on record, the order of Tribunal, dated 27.3.2017, is modified by providing that the transporter shall cooperate in any subsequent proceedings undertaken, as contemplated in law, and the transporter shall also submit an indemnity bond in respect of the balance 25% of the value of goods, as determi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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