- (1.) MATTER has come up on the misc. application filed on behalf of respondents seeking modification of ad-interim order passed by this Court dt.2.3.2009.
(2.) COUNSEL for respondents submits that ad-interim order, of which modification is being sought, came to be passed by the Court on the basis of order passed by the Division Bench, reference of which has been made in the ad-interim order dt.2.3.2009, and the Division Bench after hearing the parties at length, passed the interim order dt. 1.12.2010, the extract relevant reads as under: "With a view to balance the equity while passing interim orders and more particularly in fiscal matters it is necessary that the interest of the assessees as well as that of the Revenue may be balanced equally. Grant of absolute stay order staying the recovery of furnishing of bank guarantees does not serve either the parties or the State. Even assuming that there is a prima facie case in favour of the assessee-petitioners, the two other relevant considerations of balance of convenience and irreparable loss must also be taken into account. In that view of the matter it is directed that recovery of tax in pursuance of assessment orders and demand notices where they have been issued in the case of such petitioners shall remain stayed on the condition of the petitioners depositing 50% of the assessed tax excluding any amount of penalty and/or interest imposed by the assessing authority. The deposit be made within a period of six weeks from today. "It is further made clear that for the balance amount of 50% of tax and the amount of penalty or interest imposed by the assesing authority in the assessment order is concerned, the assessees shall furnish a solvent security or the security as provided under the Act for the said amount within a period of six weeks to the satisfaction of the assessing authority. Both these conditions of deposit and furnishing security shall be complied with within six weeks, failing which this order shall stand vacated automatically". "In the event if the writ petition succeeds the petitioner shall be entitled to refund of the amount of the tax deposited by the assessees or where the entire amount has been desposited, the entire amount with interest @ 12% per annum and in the event if the petition fails, the assessees shall be liable to pay the balance amount of tax plus penalty with interest @ 12% per annum and where assessments have not been made so far, the respondents may proceed to finalise the same and on assessment orders/demand notices being issued, the petitioners' case shall be covered by the aforesaid order". Counsel for respondents submits that in view of what has been observed by the Division Bench in the order (supra), present ad-interim order dt. 2.3.2009 may also be modified.
(3.) COUNSEL for petitioner also conceded what has been submitted before the Court.;