https://www.taxtmi.com/caselaws?id=262582 Seizure of goods supported by transport documents could not rest merely on suspected undervaluation; section 67 was held inapplicable where the documents were available and not shown to be false or forged, so the seizure was invalid. The auction of the seized goods was unlawful because the statutory requirements of prior sanction, newspaper publication, notice to the consignor or consignee, and a reasonable reserve price were not satisfied, making the sale arbitrary and contrary to natural justice. For goods sold by auction, section 68 required tax to be computed on actual sale proceeds, and penalty could not be levied on an earlier inflated valuation, so monetary relief followed. en-us Tue, 09 Sep 2014 00:00:00 +0530 Sat, 17 Oct 2015 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262582 Seizure of goods supported by transport documents could not rest merely on suspected undervaluation; section 67 was held inapplicable where the documents were available and not shown to be false or forged, so the seizure was invalid. The auction of the seized goods was unlawful because the statutory requirements of prior sanction, newspaper publication, notice to the consignor or consignee, and a reasonable reserve price were not satisfied, making the sale arbitrary and contrary to natural justice. For goods sold by auction, section 68 required tax to be computed on actual sale proceeds, and penalty could not be levied on an earlier inflated valuation, so monetary relief followed. Case-Laws VAT and Sales Tax Tue, 09 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262582