https://www.taxtmi.com/caselaws?id=260234 A bank guarantee condition imposed in stay orders for balance tax and penalty can be modified where the assessee has already made the required deposits and the statutory charge under the sales tax enactments sufficiently protects the revenue. The High Court accepted that a personal bond was an adequate substitute for the balance dues under the Tamil Nadu General Sales Tax Act, the Tamil Nadu Value Added Tax Act and the Central Sales Tax Act. The first condition in the stay orders was left undisturbed, but the bank guarantee requirement was replaced by a personal bond. en-us Thu, 30 Apr 2015 00:00:00 +0530 Fri, 05 Jun 2015 13:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260234 A bank guarantee condition imposed in stay orders for balance tax and penalty can be modified where the assessee has already made the required deposits and the statutory charge under the sales tax enactments sufficiently protects the revenue. The High Court accepted that a personal bond was an adequate substitute for the balance dues under the Tamil Nadu General Sales Tax Act, the Tamil Nadu Value Added Tax Act and the Central Sales Tax Act. The first condition in the stay orders was left undisturbed, but the bank guarantee requirement was replaced by a personal bond. Case-Laws VAT and Sales Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260234