Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
The Jharkhand High Court granted permission for release of confiscated goods subject to a pre-deposit u/s 107 of the GST Act. The assessee was required to make a pre-deposit of 10% of the total value, which was not initially considered. Upon depositing Rs.2,71,000 in addition to penalties and fines, the confiscated goods would be released under specified conditions. The court directed that the respondents refrain from auctioning the goods and conveyance until the specified date. The petition was allowed by the court.
The Jharkhand High Court granted permission for release of confiscated goods subject to a pre-deposit u/s 107 of the GST Act. The assessee was required to make a pre-deposit of 10% of the total value, which was not initially considered. Upon depositing Rs.2,71,000 in addition to penalties and fines, the confiscated goods would be released under specified conditions. The court directed that the respondents refrain from auctioning the goods and conveyance until the specified date. The petition was allowed by the court.
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