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TMI Blog2012 (3) TMI 410X X X X Extracts X X X X X X X X Extracts X X X X ..... Writ Petition No.3073/2012 - - - Dated:- 14-3-2012 - ALOK SHARMA,J. For The Appellant : Mr. Dilip Sharma For The Respondent : Mr. R.B. Mathur ORDER BY THE COURT: Aggrieved of an assessment order dated 19-9-2011 under Section 33 of the Rajasthan Value Added Tax Act, 2003 (herein after `2003 Act') levying VAT allegedly earlier short paid by the petitioner company, the petitioner company filed an appeal before the Dy. Commissioner (Appeals) Commercial Tax Department, Ajmer, who vide order dated 4-11-2011 partially stayed the demand against the petitioner company to an extent of ₹ 56,12,987/- but required the petitioner to deposit the remainder demand in a sum of ₹ 1,75,63,135/- during the pendency of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12,987/- the appellate authority allowed the petitioner to furnish a security by way of bond in Form VAT-64 with two sureties acceptable to the officer concerned, yet the Tax Board has mandated that against the remainder amount of ₹ 1,75,63,135/- (which was stayed by the Board) the petitioner should furnish security by way of bank guarantee. Counsel for the petitioner as per instruction of his client further submits that the appeal pending before the Appellate Authority is to be heard and dispose of on 26-3-2012 itself and he would be ready to argue the appeal finally on that day itself. Counsel for respondent however submits that in view of the failure of the petitioner to furnish a bank guarantee in terms of the order dated 25-1- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 of 2006 Rules makes it clear that every dealer or person who is required to furnish a security, shall furnish it in cash in accordance with rule 39; or by depositing with the officer concerned, savings certificates issued by the Government of India of a face value not less than the amount of security required to be furnished duly endorsed in favour of the officer concerned; or by way of bank guarantee; or otherwise by executing a bond in Form VAT-64 with two sureties acceptable to the officer or authority concerned. The Dy. Commissioner (Appeals) Commercial Tax Department, Ajmer at the first instance stayed the recovery of an amount of ₹ 56,12,987/- with the direction to the petitioner to furnish bond in Form VAT-64 with two suretie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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