M/S JAGATJIT INDUSTRIES LIMITED vs THE COMMERCIAL TAX OFFICER, HYDERABAD .

The Supreme Court modified the impugned order regarding the payment of VAT by M/s. Jagatjit Industries Limited, holding that instead of paying 1/3rd of the demanded tax, the Managing Director must provide a personal bond to ensure payment if the authorities succeed in the pending petition. The Court acknowledged that the appellant had already paid over Rs. 2 crores in service tax, thus allowing the appeal with the specified modification. No costs were awarded in this case.