https://www.taxtmi.com/caselaws?id=342145 The court upheld the Tribunal's decision allowing the release of goods upon deposit of 15% of the value in the form of cash security/bank guarantee. The court found no legal error in the valuation of goods or the conditional deposit of security for release. It dismissed the revision and allowed for penalty proceedings to be initiated. The transporter agreed to cooperate in penalty proceedings and provide an indemnity bond for the remaining 25% of the value of goods. The court modified the Tribunal's order accordingly, concluding the matter with these directions. en-us Mon, 24 Apr 2017 00:00:00 +0530 Thu, 27 Apr 2017 06:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342145 The court upheld the Tribunal's decision allowing the release of goods upon deposit of 15% of the value in the form of cash security/bank guarantee. The court found no legal error in the valuation of goods or the conditional deposit of security for release. It dismissed the revision and allowed for penalty proceedings to be initiated. The transporter agreed to cooperate in penalty proceedings and provide an indemnity bond for the remaining 25% of the value of goods. The court modified the Tribunal's order accordingly, concluding the matter with these directions. Case-Laws VAT and Sales Tax Mon, 24 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342145