https://www.taxtmi.com/caselaws?id=48243 Amounts furnished only as a security deposit for project import are not duty, so the refund claim is not governed by the limitation in Section 27 of the Customs Act, 1962. A bank guarantee or similar security is only a device to safeguard revenue and does not acquire the character of duty merely because provisional clearance was granted or the import was later finalised. On that basis, the Court held that the limitation applicable to refund of duty could not be used to deny refund of the security deposit, and the refusal of refund was unsustainable. en-us Thu, 19 Jun 2008 00:00:00 +0530 Tue, 03 Aug 2010 13:30:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48243 Amounts furnished only as a security deposit for project import are not duty, so the refund claim is not governed by the limitation in Section 27 of the Customs Act, 1962. A bank guarantee or similar security is only a device to safeguard revenue and does not acquire the character of duty merely because provisional clearance was granted or the import was later finalised. On that basis, the Court held that the limitation applicable to refund of duty could not be used to deny refund of the security deposit, and the refusal of refund was unsustainable. Case-Laws Customs Thu, 19 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48243