TaxTMI 
TaxTMI 
1991 (4) TMI 224
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....23rd December, 1967. By the letter dated 30th August, 1969, the petitioner was informed by the Assistant Controller of Imports and Exports that, since he had failed to fulfill the export obligation undertaken by him against the said bond, his guarantor bank had been directed to forfeit the guarantee amount and forward the receipted challan, which had since been received. The said bond was, therefore, treated as cancelled. That this was done is indicated by a certificate dated 16th April 1982 addressed by the petitioner's bankers. Mercantile Bank Ltd., to the petitioner. The certificate states that the said bond had been forfeited by the Joint Chief Controller of Imports and Exports by the letter dated 10th July, 1969 and the amount of Rs. 3....
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....as asked for early advice in the matter as the petitioner was pressing hard for the refund. A copy of this letter was forwarded to the petitioner. On 15th November, 1983, the Assistant Chief Controller of Imports and Exports wrote to the petitioner that it had not been possible for the petitioner to establish that the bond amount of Rs. 32,550/- had been deposited by it in the Government Treasury so that the question of refund of the forfeited amount did not arise. 3. In the affidavit-in-reply filed by the respondents this position is reiterated and it is stated that before the petitioner could claim the refund of the said amount of Rs. 32,550/-, it was obligatory on the part of the petitioner to establish that its bankers had deposited th....