https://www.taxtmi.com/caselaws?id=173004 A bank guarantee given for stay of a sales tax demand was enforceable only within its express contractual period, and a court could not extend the surety's liability beyond the clear terms of the instrument. Because the stipulated time limit had expired before enforcement, the guarantee could not be used to recover the tax demand. A separate deposit made as security for costs was earmarked only for that purpose and, absent an order for costs, could not be appropriated towards the unpaid tax liability. The claimed recovery therefore failed both on expiry of the guarantee and on the limited purpose of the security deposit. en-us Tue, 28 Mar 1967 00:00:00 +0530 Mon, 07 Sep 2015 12:16:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173004 A bank guarantee given for stay of a sales tax demand was enforceable only within its express contractual period, and a court could not extend the surety's liability beyond the clear terms of the instrument. Because the stipulated time limit had expired before enforcement, the guarantee could not be used to recover the tax demand. A separate deposit made as security for costs was earmarked only for that purpose and, absent an order for costs, could not be appropriated towards the unpaid tax liability. The claimed recovery therefore failed both on expiry of the guarantee and on the limited purpose of the security deposit. Case-Laws Indian Laws Tue, 28 Mar 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173004