https://www.taxtmi.com/caselaws?id=379717 The High Court declined to grant interim relief to an association of petroleum dealers challenging Indian Oil Corporation's demand for bank guarantees to cover tax liabilities from past defaults. The court emphasized the historical context and contractual relationships between the parties, noting the latitude afforded to state entities in private contracts. While acknowledging the need for reasonableness in dealings, the court required a comprehensive response from the respondents before considering relief, directing them to file a reply by a specified date. en-us Fri, 03 May 2019 00:00:00 +0530 Mon, 06 May 2019 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379717 The High Court declined to grant interim relief to an association of petroleum dealers challenging Indian Oil Corporation's demand for bank guarantees to cover tax liabilities from past defaults. The court emphasized the historical context and contractual relationships between the parties, noting the latitude afforded to state entities in private contracts. While acknowledging the need for reasonableness in dealings, the court required a comprehensive response from the respondents before considering relief, directing them to file a reply by a specified date. Case-Laws VAT and Sales Tax Fri, 03 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379717