https://www.taxtmi.com/caselaws?id=254935 Release conditions for seized goods under the U.P. Value Added Tax Act, 2008 were modified after the parties agreed that the earlier security arrangement was too onerous. The Tribunal's direction requiring part cash deposit and the balance by security other than cash and bank guarantee was altered so that the goods could be released on furnishing cash security of Rs. 2 lakhs and security for the remaining amount by the proprietor's personal guarantee. Insistence on fixed deposit receipts was not accepted, and the revised terms were treated as a workable security arrangement for provisional release. en-us Fri, 19 Dec 2014 00:00:00 +0530 Sat, 03 Jan 2015 12:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254935 Release conditions for seized goods under the U.P. Value Added Tax Act, 2008 were modified after the parties agreed that the earlier security arrangement was too onerous. The Tribunal's direction requiring part cash deposit and the balance by security other than cash and bank guarantee was altered so that the goods could be released on furnishing cash security of Rs. 2 lakhs and security for the remaining amount by the proprietor's personal guarantee. Insistence on fixed deposit receipts was not accepted, and the revised terms were treated as a workable security arrangement for provisional release. Case-Laws VAT and Sales Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254935