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Judgment
Bechu Kurian Thomas, J.
Petitioner challenges an interim order of the Kerala Value Added Appellate Tribunal directing deposit of 30% of the amount in dispute in appeal. The assessment year under challenge is 2015-2016. By the impugned order the Tribunal has directed 30% to be deposited for grant of stay of the order impugned therein and the balance to be secured by a simple bond.
On a consideration of the submissions made by the learned counsel for the petitioner as well as the learned Government Pleader, we are satisfied that the order directing deposit of 30% does not warrant any interference. Sufficient reasons have also been stated while granting the order. However, adopting a lenient view, we are of the view that an instalment facility can be granted to the petitioner for deposit of 30% directed by the Tribunal.
Accordingly, taking into reckoning the entire circumstances and the prevailing situation, we direct that the amount of security to be furnished by the petitioner as directed in the impugned orders shall be deposited in three instalments, the first of which to be paid on or before 15.05.2023 and the remaining two instalments to be paid on the 15th of the succeeding months. It is clarified that in the event of any default in payment of any one of the instalments, the respondents shall be free to proceed in accordance with law.
This OP (Tax) is disposed of accordingly.