https://www.taxtmi.com/caselaws?id=329355 The High Court partially allowed the Writ Petitions filed by M/s. Indian Oil Corporation Ltd. and Chennai Petroleum Corporation Limited, modifying the conditions for stay of tax collection imposed by the Appellate Authority. It directed the petitioners, state-owned corporations, to furnish a personal bond for the entire disputed tax amount instead of paying 25% and providing a bank guarantee. The Court emphasized the unique circumstances of the case and urged expedited proceedings while highlighting the need for compliance in case of an adverse outcome in the appeal process before the Tribunal. en-us Fri, 03 Jun 2016 00:00:00 +0530 Wed, 29 Jun 2016 21:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329355 The High Court partially allowed the Writ Petitions filed by M/s. Indian Oil Corporation Ltd. and Chennai Petroleum Corporation Limited, modifying the conditions for stay of tax collection imposed by the Appellate Authority. It directed the petitioners, state-owned corporations, to furnish a personal bond for the entire disputed tax amount instead of paying 25% and providing a bank guarantee. The Court emphasized the unique circumstances of the case and urged expedited proceedings while highlighting the need for compliance in case of an adverse outcome in the appeal process before the Tribunal. Case-Laws VAT and Sales Tax Fri, 03 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329355