https://www.taxtmi.com/caselaws?id=411806 An SEZ exit application could be processed despite a pending penalty challenge where the petitioner had already furnished a bank guarantee equal to the penalty amount. The Delhi High Court accepted an undertaking to extend the bank guarantee for two more years and to file an affidavit confirming compliance within the time granted. Subject to that compliance, the respondents were directed to process the exit request under Rule 74, and the pending penalty order was not to prevent consideration of the application. en-us Mon, 23 Aug 2021 00:00:00 +0530 Fri, 03 Sep 2021 09:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411806 An SEZ exit application could be processed despite a pending penalty challenge where the petitioner had already furnished a bank guarantee equal to the penalty amount. The Delhi High Court accepted an undertaking to extend the bank guarantee for two more years and to file an affidavit confirming compliance within the time granted. Subject to that compliance, the respondents were directed to process the exit request under Rule 74, and the pending penalty order was not to prevent consideration of the application. Case-Laws Customs Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411806