https://www.taxtmi.com/caselaws?id=172920 Where an exemption scheme makes investment conditional on prior approval for withdrawal from an escrow account, the jurisdictional excise authority must decide each withdrawal application within a reasonable time and cannot leave it pending indefinitely. The investment period for the permissible investment is construed to run only from communication of the withdrawal decision, not from the date of deposit in the escrow account, so that the beneficiary is not penalised for administrative delay and possible forfeiture. en-us Thu, 26 May 2011 00:00:00 +0530 Tue, 13 Oct 2015 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172920 Where an exemption scheme makes investment conditional on prior approval for withdrawal from an escrow account, the jurisdictional excise authority must decide each withdrawal application within a reasonable time and cannot leave it pending indefinitely. The investment period for the permissible investment is construed to run only from communication of the withdrawal decision, not from the date of deposit in the escrow account, so that the beneficiary is not penalised for administrative delay and possible forfeiture. Case-Laws Central Excise Thu, 26 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172920