https://www.taxtmi.com/caselaws?id=158265 A demand for tax and penalty on lost way bills was held to have no statutory basis and was illegal, because tax or equivalent exaction can be imposed only by authority of law under article 265. Rule 45(4)(v) allowed only reasonable security by indemnity bond where a way bill was lost; it did not authorise assessment or recovery of tax and penalty. As no contemporaneous indemnity bond demand was made and no misuse of the lost way bills was proved, withholding further way bills on the basis of the impugned demand was unjustified. The order also noted the separate penal consequence for an incorrect declaration under Rule 45(4)(vi). en-us Fri, 08 Mar 1996 00:00:00 +0530 Sat, 19 Oct 2013 11:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158265 A demand for tax and penalty on lost way bills was held to have no statutory basis and was illegal, because tax or equivalent exaction can be imposed only by authority of law under article 265. Rule 45(4)(v) allowed only reasonable security by indemnity bond where a way bill was lost; it did not authorise assessment or recovery of tax and penalty. As no contemporaneous indemnity bond demand was made and no misuse of the lost way bills was proved, withholding further way bills on the basis of the impugned demand was unjustified. The order also noted the separate penal consequence for an incorrect declaration under Rule 45(4)(vi). Case-Laws VAT and Sales Tax Fri, 08 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158265