https://www.taxtmi.com/caselaws?id=51983 Refund of a bank guarantee furnished as security in provisional assessment accrues when the underlying demand is set aside, so limitation cannot be counted from the earlier date of encashment; the refund is therefore not time-barred and the security amount is refundable. Because the amount was a security deposit and not a duty payment, Section 11B was held inapplicable in this context, and the statutory basis for interest under Section 11BB was also absent; interest on the refunded amount was accordingly denied. en-us Wed, 06 Aug 2003 00:00:00 +0530 Wed, 29 Sep 2010 15:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51983 Refund of a bank guarantee furnished as security in provisional assessment accrues when the underlying demand is set aside, so limitation cannot be counted from the earlier date of encashment; the refund is therefore not time-barred and the security amount is refundable. Because the amount was a security deposit and not a duty payment, Section 11B was held inapplicable in this context, and the statutory basis for interest under Section 11BB was also absent; interest on the refunded amount was accordingly denied. Case-Laws Central Excise Wed, 06 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51983