Revenue Must Refund Petitioner Due to Inappropriate Bank Guarantee Encashment; Demand Stay and Unused Goods Release.

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....Refund claim - monies obtained by the revenue, against the encashment of three bank guarantees - Given the fact that there is a stay on the demand raised by the respondents/revenue, as also the undisputed fact which has emerged, that the provisional release of goods was not, ultimately, taken recourse to by the petitioner, to our minds, the aforementioned bank guarantees could not have been encashed - having regard to the state of affairs, it is clear that the respondents/revenue will have to remit the amount to the petitioner, as reflected in the aforementioned bank guarantees. - HC....