Appellate authority cannot reduce or waive 25% pre-deposit u/s 62(5) of Punjab VAT: SC

M/s Tecnimont Pvt. Ltd. Vs State of Punjab & Others (Supreme Court) In this case Supreme Court reversed the decision of Punjab and Haryana High Court in the case of PSPCL ltd Vs state of Punjab wherein the HC had held that appellate authority can in appropriate cases reduce or waive 25% of pre-deposit u/s 62(5) of Punjab VAT Act, now after the decision of SC it is mandatory to deposit 25% of additional demand u/s 62(5) of Punjab VAT act before an appeal be heard on merits. It held that Any such exercise would make the provision itself unworkable and render the statutory intendment nugatory...