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TMI Blog2013 (6) TMI 554X X X X Extracts X X X X X X X X Extracts X X X X ..... vary the order appealed against which, certainly leads to a conclusion that the tribunal is vested with the power to demand lesser amount of security and not to stick at the security of 40% of the estimated value of the goods in directing for release of the same. Tribunal has the authority in exercise of its appellate power to direct for release of the goods on a lesser amount of security than 40% of the estimated value of goods seized. - Decided against the revenue. - SALES/TRADE TAX REVISION No. - 274 of 2011 - - - Dated:- 29-4-2011 - Pankaj Mithal,JJ. For the Respondent : Piyush Agrawal ORDER The revenue has preferred these revisions against the common order of the tribunal dated 30.3.2011 whereby the seized goods have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 48 of the Act which contains the power to seize goods in Sub-section (5) provides that an officer authorized on being satisfied that the goods are not duly accounted for in the documents or are undervalued to the extent of 50% of the value prevalent at the relevant time in the local area and there is intention to evade payment of tax, it shall pass an order of penalty not exceeding 40% of the value of the goods, as he deems fit. In view of the above, the order of penalty cannot be more than 40% of the value of the goods and it is for this reason the authority has been vested with the power to demand security not exceeding the amount as would be sufficient to cover the penalty likely to be imposed for the purposes of releasing the goods. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Sub-section (5); (a) confirm, cancel or vary such order; or (b) set aside the order and direct the assessing or appellate or revising authority or the Commissioner as the case may be, to pass a fresh order after such further enquiry, if any, as may be specified ; or (c )Order such amount of tax, fee or penalty or other money as may have been realized in excess of the due amount to be refunded according to the provisions of this Act." A plain reading of the aforesaid provision makes it clear that the tribunal has ample power in exercise of its appellate jurisdiction to confirm, cancel or vary or set aside the order appalled against and to remand the matter. Thus, the order of release passed by the officer authorized or the Commissi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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