https://www.taxtmi.com/caselaws?id=45600 A security bond executed for a one-year tobacco warehouse licence is construed with the licence and governing warehousing rules, and it does not create continuing surety liability beyond the licence period unless the bond or rules clearly say so. Rule 140 required a bond for compliance with statutory conditions, while Rule 178 limited the licence to one year. Rule 155 did not extend liability after expiry when goods were moved to another warehouse, and a later letter by the surety did not enlarge the bond's scope. The surety was therefore not liable for dues arising after expiry. en-us Mon, 01 Oct 1956 00:00:00 +0530 Mon, 12 Jul 2010 16:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45600 A security bond executed for a one-year tobacco warehouse licence is construed with the licence and governing warehousing rules, and it does not create continuing surety liability beyond the licence period unless the bond or rules clearly say so. Rule 140 required a bond for compliance with statutory conditions, while Rule 178 limited the licence to one year. Rule 155 did not extend liability after expiry when goods were moved to another warehouse, and a later letter by the surety did not enlarge the bond's scope. The surety was therefore not liable for dues arising after expiry. Case-Laws Central Excise Mon, 01 Oct 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45600