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2017 (5) TMI 926 - MADRAS HIGH COURT

2017 (5) TMI 926 - MADRAS HIGH COURT - TMI - Validity of assessment order - furnishing of bank guarantee for balance of tax - Held that: - This Court has already considered similar request made by other Assessees and permitted them to furnish personal bond instead of bank guarantee by considering the fact that they have complied with the other condition of paying the tax liability. Therefore the petitioner in this case is also entitled to similar relief - petition allowed - decided partly in fav .....

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o furnish bank guarantee for the balance of tax of ₹ 11,28,25,520/- (Rupees eleven crores twenty eight lakhs twenty five thousand five hundred and twenty only). 3. The learned counsel for the petitioner submitted that the petitioner has already paid 50% of the tax liability and therefore, the petitioner may be permitted to furnish personal bond instead of the bank guarantee, as directed by the second respondent in the impugned proceedings. 4. The learned Additional Government Pleader (Tax) .....

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