The seized goods had not been secreted or hidden either at any other/undisclosed place of business or at the disclosed place of business. Therefore there did not exist any jurisdiction under Section 67(2) of the Act to seize such goods. Consequentially, no security or tax or penalty could be demanded for goods seized from the disclosed place of business as the same had not been 'secreted' for the purpose of section 67(2) of the Act. it is desirable that the goods may be released in favour of the assessee, subject to his furnishing security in the shape of cash for the amount of tax and penalty contemplated to the extent of 50% and for the balance amount, the security may be furnished in the shape of indemnity bond,