Petitioner can provide personal bond for tax amount, not bank guarantee. Maintain bond until appeal resolved.

The court partly allowed the writ petition, modifying the impugned order to permit the petitioner to furnish a personal bond for the full tax amount instead of a bank guarantee. The petitioner was directed to maintain the bond until the appeal's resolution and to provide the bond within two weeks from the court's order. No costs were awarded, and the related miscellaneous petition was closed.

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Issues:
Challenge against direction to furnish bank guarantee for tax liability.

Analysis:
The petitioner challenged the order of the second respondent, specifically related to the direction to furnish a bank guarantee for the balance of tax amounting to Rupees 11,28,25,520. The petitioner argued that they had already paid 50% of the tax liability and requested permission to furnish a personal bond instead of a bank guarantee. The respondents confirmed that the petitioner had paid Rupees 10,02,89,350 towards the tax liability. The petitioner had filed a statutory appeal against the assessment order for the assessment year 2015-16 and sought an interim stay on tax collection. The second respondent imposed two conditions for the stay, out of which one condition was already fulfilled by the petitioner by paying 25% of the balance tax amount. The petitioner's main grievance was against the second condition of furnishing a bank guarantee.

The court considered similar requests from other assessees and allowed them to furnish personal bonds instead of bank guarantees when they had complied with the tax payment condition. Therefore, the court granted similar relief to the petitioner in this case. The writ petition was partly allowed, and the impugned order was modified to allow the petitioner to furnish a personal bond for the full tax amount instead of a bank guarantee. The petitioner was directed to keep the bond active until the appeal's disposal and to furnish the bond within two weeks from the date of receiving the court's order. No costs were awarded, and the connected miscellaneous petition was closed.

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