TMI Blog2021 (7) TMI 1147X X X X Extracts X X X X X X X X Extracts X X X X ..... levied although the matter is yet to be settled finally - goods are properly obtained through legitimate means or not - HELD THAT:- This Court having heard learned counsel for the parties and also on perusal of the materials on record, is of the view that it is the mandate of law that at the time of release, not only the value of the goods but also the penalty as may be payable as per the authori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel for the applicants. Also heard Mr. S.C. Keyal, learned Standing Counsel, GST. 3. The present application has been filed to release the seized goods in terms of the order dated 15.03.2021 passed by this Court in WP(C) No.1003/2021. 4. According to the learned counsel for the applicants, the authorities are putting unnecessary conditions for release of the seized goods though the applicant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upon execution of a bond and furnishing of a security, in such manner and of such quantum, respectively, as may be prescribed or on payment of applicable tax, interest and penalty payable, as the case may be and it has been held by the Hon ble Supreme Court in State of Uttar Pradesh and others Vs. Kay Pan Fragrance, reported in (2020) 5 SCC 811, that the provisions of the statute must also be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be beyond the purview of law. In fact, it is within the provisions of law referred to above. 7. In that view of the matter, the present application is allowed. The applicants shall execute a bond and furnish Bank Guarantee in respect of the following amount mentioned in the communication dated 17.03.2021:- Tax payable(CGST@2.5%+SGST@2.5%) 5% of ₹ 67,35,300.00 = ₹ 3,36,750.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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