https://www.taxtmi.com/caselaws?id=238044 The High Court ruled in favor of the petitioner, a company, in a case challenging the premature encashment of bank guarantees by the revenue authority before the appeal period had expired. The court declared the encashment as "bad in law," ordering the refund of the encashed amount to the bank and directing the issuance of fresh guarantees to maintain the status quo ante. The judgment emphasized the necessity of following legal timelines and procedures concerning bank guarantees and revenue encashment. en-us Thu, 03 Oct 2013 00:00:00 +0530 Tue, 15 Oct 2013 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238044 The High Court ruled in favor of the petitioner, a company, in a case challenging the premature encashment of bank guarantees by the revenue authority before the appeal period had expired. The court declared the encashment as "bad in law," ordering the refund of the encashed amount to the bank and directing the issuance of fresh guarantees to maintain the status quo ante. The judgment emphasized the necessity of following legal timelines and procedures concerning bank guarantees and revenue encashment. Case-Laws Central Excise Thu, 03 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238044