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2019 (8) TMI 546 - HC - Income TaxExtension of time for providing bank guarantee as directed by HC - as directed the parent company shall provide a corporate guarantee for the balance amount under the penalty order which shall subsist till the final disposal of the appeal within a period of three weeks from today - HELD THAT:- This court has considered the submissions advanced by the learned counsel for the respective parties. Insofar as the apprehensions voiced by the learned counsel for the respondent are concerned, the same do not fall within the scope of the present application whereby the applicant only seeks extension of the time stipulated by this court for furnishing the corporate guarantee. In fact what the respondents seek is a modification of the judgment and order dated 15.04.2019 by substituting the condition of furnishing corporate guarantee with bank guarantee, which cannot be done in an application filed by the applicant herein. Insofar as the relief prayed for in this application is concerned, in the opinion of this court, the same appears to be reasonable inasmuch as on account of the ensuing vacations the judgment and order was not uploaded till 24th May, 2019, on account of which the applicant was not in a position to do the needful to obtain the corporate guarantee from the parent company which is situated in the Netherlands. Therefore on account of no fault on its part the applicant should not be made to suffer. The application, therefore, deserves to be allowed. The application succeeds and is accordingly, allowed. The time stipulated by this court for furnishing corporate guarantee by its judgment and order is hereby extended till 25th June, 2019.
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