Whether confiscated good and vehicles can be released by depositing 25% of the amount mentioned in the order in case and furnishing a bank guarantee for the balance?
The Honorable Punjab and Haryana High Court in the case of M/s. Kanchan Supplier held that the Taxpayer has the right to appeal against the Order. Further, the vehicle and the goods confiscated shall be released upon 25% of the amount mentioned in the impugned Order and the outstanding balance shall be secured by furnishing of bank guarantee.