9911796707
TMI Blog2014 (5) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... directed the appellant to continue to pay tax at the prescribed rate/s as applicable to each one of the assessee. 3. On 16.9.2013, 25.9.2013 and thereafter on 8.10.2013 we passed following orders:- Order dated 16.9.2013 "The dispute centers around the compliance of the order of the Supreme Court in SLP (C) No.244 of 2012 dated 18th January, 2012 by which the Supreme Court has stayed 50% of the accrued tax liability/ arrears under the U.P. Tax on Entry of Goods into Local Area Act, 2007 and also directed the appellant to deposit 50% of the tax liability/ arrears including interest and penalty and furnish bank guarantees for balance amount as and when demand notices are issued under the U.P. Act, 2007 for the past period. So far as future period is concerned, the Supreme Court has directed that the appellant shall continue to pay tax at the prescribed rate/s as applicable to each one of the assessee. It is submitted by Shri S.D. Singh, learned counsel for the petitioner that the petitioner had submitted the computation in the representation under which after taking into account the benefit of stay of 50% of the past liability/ arrears there is excess deposit for May 2007 to Septe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount against the liability of the value added tax/ commercial tax for the month of September, 2013 onwards that would become due from October, 2013 onwards. The amendment application is allowed. Let necessary amendments be carried out within a week. Shri C.B. Tripathi appearing for the respondents has provided a computation prepared by the Joint Commissioner (Commercial Tax) Corporate Circle (I), Commercial Tax, Kanpur, according to which the entire amount recovered from the bank account of the petitioner relates to the interest of the year 2007-08, and which does not include cash deposits and further that the interest payable has not been deducted on the balance, which is still due to be paid by the petitioner. The computation given the entire amount due and payable with interest from 2003-04 to 2009-10 after taking into consideration the interim order of the Supreme Court passed in the special leave petition filed by the petitioner, which provided for deposit of 50% of the arrears in cash and to provide bank guarantee for the remaining 50%. A copy of the computation sheet has been provided to learned counsel for the petitioner. List on 8th October, 2013 in the additional c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12. Shri S.D. Singh, learned counsel for the petitioner, however, submits that on furnishing of bank guarantee of Rs.52 crores the Court may direct the amount of Rs.13,50,09,000/- appropriated from the bank account of the petitioner-company to be adjusted in the current and future demand of the Entry Tax. Shri C.B. Tripathi, the Special Counsel has reservations on the prayer. As an interim measure, we modify the order dated 16.9.2013 to the effect that in case the petitioner furnishes bank guarantee of Rs.52 crores to the satisfaction of the Joint Commissioner (Commercial Tax) Corporate Circle (I), Commercial Tax Kanpur within a period of 15 days from today, he will not press any further demand in pursuance to the interim order by Hon'ble Supreme Court dated 18th January, 2012 in SLP (C) No.244 of 2012. The respondents will file counter affidavit within four weeks. The rejoinder affidavit may be filed within one week, thereafter. List for admission/ hearing on 12th November, 2012. The prayer for adjustment of Rs.13,50,09,000/- will be considered on the next date of hearing. In the meantime, it will be open to the petitioner to provide detailed computation for adjustment of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch he has stated in paras 9, 10 and 11 as follows:- "9. That with regard to the contents of paragraph no.4 of the supplementary affidavit it is stated that the total amount of arrears and the deposits made by the petitioner from the year 03-04 to 09-10 is as under:- (i) Total tax assessed Rs.18,641.56 lakhs (ii) Cash deposits Rs.12241.38 + Rs.1350.09 = 13591.47 lakhs (iii) Bank guarantee/indemnity bond 1123.89 + 5200.00 = 6323.89 lakhs (iv) Bank guarantee encashed 4895.61 lakhs (v) Outstanding arrears 1504.54 lakhs (vi) Outstanding demand of interest 4223.47 (-) 1350.09 = 2873.38 lakhs As per interim order of Hon'ble Supreme Court the petitioner is required to deposit 50% of the amount of arrears in cash and for the remaining 50% he has to furnish bank guarantee. The petitioner is required to deposit Rs.11432.515 lakhs in cash whereas the deposit in cash Rs.18487.08 lakhs and therefore there is an excess deposit of Rs.7054.565. The bank guarantee required to furnish is for Rs.11432.15 lakhs whereas the bank guarantee/indemnity bond furnished is of Rs.6323.89 and therefore the bank guarantee is short by Rs.5108.625 lakh. Taking together the amount of bank guarantee and the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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