https://www.taxtmi.com/caselaws?id=339837 The Court held that goods seized during transportation could be released upon furnishing an indemnity bond for the demanded amount, despite doubts in the transaction details. While emphasizing the need to protect revenue interests, the Court balanced this with the rights of the assessee. The Court indicated that penalty proceedings could not be ruled out due to transaction discrepancies but directed release of goods with the bond. The decision aimed to address the uncertainties in the transaction while ensuring a fair balance between the parties' interests. en-us Wed, 15 Feb 2017 00:00:00 +0530 Wed, 08 Mar 2017 07:13:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339837 The Court held that goods seized during transportation could be released upon furnishing an indemnity bond for the demanded amount, despite doubts in the transaction details. While emphasizing the need to protect revenue interests, the Court balanced this with the rights of the assessee. The Court indicated that penalty proceedings could not be ruled out due to transaction discrepancies but directed release of goods with the bond. The decision aimed to address the uncertainties in the transaction while ensuring a fair balance between the parties' interests. Case-Laws VAT and Sales Tax Wed, 15 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339837