https://www.taxtmi.com/caselaws?id=176007 Under the U.P. Value Added Tax framework, undervaluation must be tested by reference to the market value in the local area where the transaction occurred, not the place where goods are intercepted or detained. Goods imported from Kerala and seized at Fatehpur on the way to Kanpur were valued by the local market at the detention point, which was held to be the wrong legal basis. As a result, the finding of undervaluation could not stand and the seizure was unsustainable; the impugned proceedings were set aside. en-us Mon, 29 Oct 2012 00:00:00 +0530 Thu, 10 Dec 2015 12:18:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176007 Under the U.P. Value Added Tax framework, undervaluation must be tested by reference to the market value in the local area where the transaction occurred, not the place where goods are intercepted or detained. Goods imported from Kerala and seized at Fatehpur on the way to Kanpur were valued by the local market at the detention point, which was held to be the wrong legal basis. As a result, the finding of undervaluation could not stand and the seizure was unsustainable; the impugned proceedings were set aside. Case-Laws VAT and Sales Tax Mon, 29 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176007