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"At this stage we are not going into the question as to the jurisdiction of a competent officer to intercept and seize the goods while on transit because that provision of statute is not under challenge.

On perusal of the order imposing penalty we find that the learned Commercial Tax Officer himself has observed that the price of arecanuts in Karnataka is varying between Rs. 55 and Rs. 65 per kg. Therefore, the under-invoicing, if any, is to be considered in the context of the price which according to the officer himself is prevailing in Karnataka. At any rate for adjudication of the dispute we have come to a finding as to whether there is an under-invoicing or what is the proper price of arecanuts in the market. These are purely questions of fact on which the fact-finding authorities should record their findings first. Accordingly, the instant application cannot be entertained. The applicant must exhaust all the alternative remedies available under the statute. However, the applicant's prayer for instant release of the goods is taken into consideration. Admittedly, the applicant is a registered dealer. The seized goods shall be released provided the applicant furnishes security to the extent of Rs. 2,70,000, 50 per cent of which should be in cash and 50 per cent should be by way of bank guarantee. If such securities are furnished and evidence to that effect is produced before the C.T.O., Central section, the goods shall be released immediately. The bank guarantee, if furnished, shall be renewed from time to time, as may be required by the competent authority. The security shall abide by the ultimate decision in the revision application, if any, filed. This security amount will not influence the penalty amount as may be fixed. Mr. Chakraborty submits that the original documents like the waybill, consignment note and invoice may be returned to the applicant. Mr. Saha Roy has no objection provided the applicant furnishes photocopies of the same duly authenticated by the applicant No. 1 or his authorised representative. The original documents, be returned provided photocopies of the same duly authenticated by the applicant are furnished to the Revenue.

13. Thus the verification has to be made, as mentioned in the accompanying bill that the description, quantity, weight or value which are actually found in such consignment. It is, therefore, not for the assessing authority at that stage to verify the actual market value vis-a-vis the value mentioned in the waybill although the same value had been mentioned in different documents accompanying the consignment. He may only make a note thereof and send a report to the assessing authority for the purpose of assessment. Having regard to the fact that the seizure is to be effected, in accordance with law, only for the purpose of detection of evasion of sales tax, the statutory authority must exercise its jurisdiction within the four corners of the statute.