Tax Dispute: HC grants stay subject to furnishing of personal bond, Stayed condition of furnishing a bank guarantee

Burnt Umber Fashion Pvt. Ltd Vs Deputy Commissioner (CT) (Appeal) Chennai (Madras High Court) In Burnt Umber Fashion Pvt. Ltd Vs Deputy Commissioner (CT) (Appeal) Chennai, the Madras High Court has granted a stay on the condition of furnishing a bank guarantee for the balance of the disputed tax, permitting the petitioner to provide a personal bond instead. The case revolves around the condition imposed by the first respondent requiring the petitioner to furnish a bank guarantee for the balance of the disputed tax of Rs.12,73,884/-. The petitioner had already paid 25% of the disputed tax amoun...