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2019 (2) TMI 1221 - HC - VAT and Sales TaxValidity of conditional interim order granted by the second respondent - direction to furnish bank guarantee for the disputed penalty in respect of each assessment year - Held that:- The petitioner, being a Public Sector Company cannot be imposed with such onerous condition for granting stay of recovery of penalty - Reliance placed in the case of Bharat Petroleum Corporation Ltd., Vs. Commissioner of Sales Tax and Others [2008 (8) TMI 554 - SUPREME COURT OF INDIA], where the Oil Corporation was given the relief of providing personal bond instead of furnishing bank guarantee, under similar circumstances. The impugned orders of the second respondent are modified to the effect that the petitioner, instead of furnishing Bank guarantee, shall furnish personal bond for the disputed penalty of ₹ 55,82,85,736/-, ₹ 10,61,45,912/- & ₹ 5,83,95,585/- respectively to the satisfaction of the Assessing Officer - petition allowed.
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