https://www.taxtmi.com/caselaws?id=47283 A bank guarantee furnished under court order towards disputed excise duty is only a security arrangement and does not amount to payment of duty to the revenue. As refund under Section 11B of the Central Excise Act requires actual payment of duty to the excise authorities, the encashed guarantee amount could not be treated as duty paid for refund proceedings. Because the Supreme Court had already settled the position, no referable question of law survived under Section 35H(1). The encashed amount was therefore repayable to the assessee, and the reference application was rejected. en-us Tue, 11 Sep 2001 00:00:00 +0530 Wed, 28 Jul 2010 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47283 A bank guarantee furnished under court order towards disputed excise duty is only a security arrangement and does not amount to payment of duty to the revenue. As refund under Section 11B of the Central Excise Act requires actual payment of duty to the excise authorities, the encashed guarantee amount could not be treated as duty paid for refund proceedings. Because the Supreme Court had already settled the position, no referable question of law survived under Section 35H(1). The encashed amount was therefore repayable to the assessee, and the reference application was rejected. Case-Laws Central Excise Tue, 11 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47283