2015 (1) TMI 134

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.... Agarwal For the Respondent : C.S.C. ORDER Heard counsel for the applicant and Sri Sanjeev Sankhdhar appearing on behalf of the Revenue. With their consent, this revision is being decided finally without formally admitting the same. The applicant was registered under the provisions of the U.P. Value Added Tax Act, 2008, hereinafter referred to as 'the Act', on 16.10.2014, the d....

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....f the total value of the seized goods in cash and 30% by way of security other than cash and bank guarantee. Aggrieved by the same, present revision has been filed. It is contended by the applicant that the applicant firm was duly registered on the date consignment was intercepted. It is further submitted that alongwith the explanation to the show cause notice, the applicant firm had duly submi....

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.... It is contended that the same is in the teeth of the order of the Tribunal, which exempts the applicant from furnishing security in the nature of bank guarantee. He submits that in case, security is submitted by way of fixed deposit receipts, such amount would be blocked and thus, it is as good as furnishing bank guarantee. On the other hand, Sri Sanjeev Sankhdhar, learned counsel for the Reve....

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.... not doing any business for considerable time and is a bogus firm. In such circumstances, the authorities were fully justified in exercising their power under Section 48 (1) (ii) of the Act, after coming to the conclusion that the documents have been fabricated subsequently. He, however, very fairly submits that the assessing authority is not justified in insisting upon security by way of fixed....