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TMI Blog2014 (2) TMI 1046X X X X Extracts X X X X X X X X Extracts X X X X ..... he file of Appellate Deputy Commissioner (Commercial Tax), Chennai imposing a condition that the petitioner should produce Bank Guarantee for the tax amount during the currency of the appellate proceedings. 4. For the sake of brevity, facts are being taken from W.P.No.541 of 2013, as common question involved in these writ petitions. The facts leading to filing of these writ petitions read as follows: i)The petitioner is a dealer in electronic goods, such as parts and accessories of computers. In the course of business, the petitioner received incentives and discounts from the suppliers based on lifting the stocks. Such incentives and discounts are in no way connected with the tax already paid by the petitioner to its suppliers. The impugn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay another 25% of the disputed amount of tax of Rs. 71,410/- before the Assessing Authority on or before 26.12.2013. The Appellate Deputy Commissioner, imposed a further condition directing the petitioner to produce Bank Guarantee with respect to the balance amount of tax. iv)It is submitted by the petitioner that entire liquidity is blocked in the stock available in the business premises and due to recession and fluctuation in dollar verses rupee, the petitioner was unable to move the stock as the stock that was purchased at higher price cannot be sold at lower price. Therefore, the petitioner had to hold the stock purchased at higher price and buy fresh stock for making couinter sales. The bankers are also insisting upon 100% deposit to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ards Disputed Tax W.P.No.541 of 2014 Rs.71,410/- Rs.2,14,216/- W.P.No.542 of 2014 Rs.90,150/- Rs.2,70,447/- W.P.No.543 of 2014 Rs.61,725/- Rs.1,85,178/ 8. The petitioner has already deposited 25% of the disputed amount of tax pursuant to the direction given by the Appellate Deputy Commissioner. In addition to the deposit of 25%, the Appellate Deputy Commissioner, directed the petitioner to produce Bank Guarantee for the remaining amount of tax and penalty. 9. This Court has passed several orders on earlier occasions substituting the condition with regard to execution of Bank Guarantee by permitting the concerned appellants to produce personal bonds, undertaking to pay the entire amount , in case the appeal is rejected. 10. The p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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