2004 (12) TMI 567

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..... [Order]. Heard both sides. M/s. Premier Art Silk Processors Pvt. Ltd. is engaged in the processing of Grey MMP. The appellant filed refund claim of Rs. 6,30,676/- relating to appropriation of Bank Guarantee in lieu of confiscation. The appellant was served a Show Cause Notice for rejection of the said refund claim and the case was adjudicated by the Dy. Commissioner, Central Excise, Div. .....

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..... ugned order . 2.The appellant raised a plea that the time limit of six months under Section 11B is not applicable in their case. But the Commissioner (Appeals) referred to different circumstances under Section 11B where refund is considered without limitation period, but not the instant case. 3.In the case of M/s. Oswal Agro Mills Ltd. v. Asstt. Collector of Central Excise, Ludhiana, reporte .....

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..... ank guarantee for all or part of the disputed excise duty pursuant to an order of the court is equivalent to payment of the amount of excise duty. In our view, the answerer is in the negative. The bank guarantee is security for the Revenue, that in the event the Revenue succeeds its dues will be recoverable, being backed by the guarantee of a bank. In the event, however, unlikely, of the bank refu .....

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