Non-Production of Goods is not a Ground for Imposition of Penalty

Noushad Allakkat Vs Stata Tax Officer (Kerala High Court) Kerala High Court has held that penalty cannot be imposed for not producing the goods (before the officer) after release on bond, when there is a security equivalent to value of goods which could be invoked. It noted that there was no question of tax and penalty being not paid as bank guarantee could be invoked at any time. FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT The appellant, who obtained provisional release of the goods by furnishing bank guarantee for the applicable tax and penalty as spoken of under Section 129 of the Integrat...