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2014 (2) TMI 1046 - MADRAS HIGH COURTExecution of bank Guarantees for the balance amount of disputed tax - Held that:- The petitioner has already deposited 25% of the disputed amount of tax pursuant to the direction given by the Appellate Deputy Commissioner. In addition to the deposit of 25%, the Appellate Deputy Commissioner, directed the petitioner to produce Bank Guarantee for the remaining amount of tax and penalty - This Court has passed several orders on earlier occasions substituting the condition with regard to execution of Bank Guarantee by permitting the concerned appellants to produce personal bonds, undertaking to pay the entire amount , in case the appeal is rejected - The petitioner in these three petitions is also similarly placed and therefore, I am of the view that the petitioner should be permitted to execute personal bonds instead of Bank Guarantees - Decided in favour of assessee.
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