https://www.taxtmi.com/caselaws?id=43713 SC held that furnishing bank guarantee for disputed excise duty is not equivalent to payment of duty amount. Bank guarantee serves as security for Revenue to recover dues if successful, but does not constitute actual payment to Revenue. Since no payment occurred, refund provisions under Section 11B are not applicable. HC erred in directing appellants to renew bank guarantees as they were not proper subject matter of writ petition. SC directed respondents to repay collected amount to bank within two weeks and dismissed review petition. en-us Fri, 04 Feb 1994 00:00:00 +0530 Thu, 29 May 2025 11:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43713 SC held that furnishing bank guarantee for disputed excise duty is not equivalent to payment of duty amount. Bank guarantee serves as security for Revenue to recover dues if successful, but does not constitute actual payment to Revenue. Since no payment occurred, refund provisions under Section 11B are not applicable. HC erred in directing appellants to renew bank guarantees as they were not proper subject matter of writ petition. SC directed respondents to repay collected amount to bank within two weeks and dismissed review petition. Case-Laws Central Excise Fri, 04 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43713