SC Grants Interim Stay on Tax Recovery; Petitioner Must Provide 50% Bank Guarantee in Six Weeks, No Respondent Representation.

The SC granted an interim stay on the tax recovery proceedings against the petitioner. The petitioner is required to furnish a bank guarantee covering 50% of the disputed amount within six weeks. The respondent did not make any representation in the proceedings.

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The Supreme Court issued an order for interim stay of tax recovery, requiring the petitioner to provide a bank guarantee of 50% of the amount demanded within six weeks. No representation from the respondent was noted.

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