2026 (3) TMI 1357

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt at Annexure-A, the petitioners' request seeking cancellation of the Bank Guarantee furnished in compliance with the directions of the Hon'ble High Court of Karnataka, Kalaburagi Bench vide order dated 24.07.2024 was considered by the authority and rejected, while observing that the Bank Guarantee was to be kept alive till the disposal of the appeal by the Appellate Tribunal. 2. The brief facts are that proceedings were initiated under Section 129 of the Karnataka Goods and Services Tax Act, 2017 / Central Goods and Services Tax Act, 2017 (hereinafter referred to as the "the Act") by respondent No. 1 who passed an order on 13.06.2024. Simultaneously, proceedings under Section 130 of the Act were also initiated. During the pende....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....thority has taken a stand that, as the proceedings have not attained finality and revisionary proceedings under Section 108 of the Act have been initiated and concluded, there would be a requirement for continuance of the Bank Guarantee. 7. It is not in dispute that the execution of the Bank Guarantee was insofar as securing the value of the goods and conveyance in order to obtain its release. 8. The petitioners admittedly succeeded in the first appellate proceedings wherein the order of confiscation has been set aside. If that were to be so, at one stage the petitioners have an order in their favour. No doubt, the revisionary proceedings has resulted in setting aside of the orders passed in the first appeal. However, such revisionary....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....-18 up to 2024-25 are produced herewith as Document Nos.1 to 9. For the current financial year, a copy of the GSTR-3B return filed by the firm is also produced as Document Nos.10. 4. I state that the 1st petitioner firm is engaged in the business of trading of arecanut since its inception. I further submit that, except for the present proceedings that are the subject matter of this writ petitioner, there have been no instances of detention, seizure, or confiscation initiated against the 1st petitioner firm under the KGST Act. 5. In the above circumstances, I respectfully submit that the 1st Petitioner firm has demonstrated consistent compliance, its bona fides and that it is a genuine and honest taxpayer." 12. Learned A....