https://www.taxtmi.com/caselaws?id=167766 A yearly sales tax exemption scheme required a fresh renewal application and current-year security each year, so a surety bond in form ST-50 extended only to the period for which it was furnished. Where no renewed surety was executed for later years, the sureties could not be made liable for arrears arising after the original bond had expired. The recovery notices were therefore unsustainable, and the writ petition succeeded with the proceedings quashed. en-us Tue, 26 Mar 2013 00:00:00 +0530 Fri, 02 Jan 2015 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167766 A yearly sales tax exemption scheme required a fresh renewal application and current-year security each year, so a surety bond in form ST-50 extended only to the period for which it was furnished. Where no renewed surety was executed for later years, the sureties could not be made liable for arrears arising after the original bond had expired. The recovery notices were therefore unsustainable, and the writ petition succeeded with the proceedings quashed. Case-Laws VAT and Sales Tax Tue, 26 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167766