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of <h1>High Court overturns lower court and tribunal decisions, petitioner to deposit Rs. 7 lakhs, penalty recovery on hold.</h1> <h3>Indian Sugar and General Industry Export and Import Corporation Limited Versus Sales Tax Appellate Tribunal and another</h3> Indian Sugar and General Industry Export and Import Corporation Limited Versus Sales Tax Appellate Tribunal and another - [2003] 133 STC 161 (Mad) The High Court of Madras set aside the order of the learned single Judge and quashed the order of the Sales Tax Appellate Tribunal. The petitioner was directed to deposit Rs. 7 lakhs towards the tax assessed and furnish a bank guarantee for the balance amount for the Tribunal to hear and decide the appeal. The recovery of the penalty was suspended until the appeal was disposed of.
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