1996 (1) TMI 385

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....parties, the original petition itself is taken up for final disposal. It is not in dispute that the petitioner-company was declared as a sick industry and a scheme for rehabilitation was framed by BIFR (Board for Industrial and Financial Reconstruction). Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 deals with suspension of legal proceedings, contracts, etc. That se....

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.... the bank for an account of the dealer shall be paid forthwith towards the said arrears of sales tax. A similar notice was also issued to the State Bank of Travancore, Tirupur, for the said amount of Rs. 64,72,755. It is at this stage the petitioner has approached this Tribunal with the prayer to forbear the Commercial Tax Officer, Tirupur from recovering sales tax for the assessment years 1985-86....

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....d automatically vacated. With the result, the amount of sales tax for the years 1985-86 to 1987-88 became due and payable for the recovery of which the form B6 notice was issued. It is true that the High Court granted a conditional stay. On the condition not having been complied with, the stay stood automatically vacated. The only legal consequence would be that there was no stay. The amount of....