1996 (4) TMI 471

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..... ner herein furnished a bank gurantee issued by Hong Kong Bank, Bangalore, situated outside the territory of Tamil Nadu. The said Bank guarantee was not accepted. by the respondent on the ground that the guaranatee issued by a bank situated outside Tamil Nadu is not acceptable under rule 24(15-A) Admittedly, the bank which furnished the gurantee is not a nationalised bank. 2.. Thiru. N. Inbarajan .....

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..... proper rule that should be applied in only rule 31 which reads as follows: "Where it is provided in the Act that an appellant (or an applicant in review proceedings shall furnish security in regard to the payment of tax or loss fee or other amount, the appellant (or applicant) or any person on his behalf shall furnish property security with a security bond in form XIX or a bank gurantee in form .....

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